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AUDIO NEWS: Builders unimpressed with Autumn budget and commercial work takes off in November

Posted: Monday, December 9th, 2024

The Autumn Budget failed to impress contractors, claims a survey from Gleeds. 

In a poll of 300 contractors, 80% said the budget would have either negative repercussions or make no difference to the construction sector.

Almost 40% felt the budget would lead to a decline in investment in the UK property market.

90% of contractors also predicted that the government won’t fulfil its promise to deliver 1.5 million homes before the next election.

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Construction buying managers reported the strongest rise in commercial work for two and half years

However, the house building market continued to decline in November.

Overall, S&P Global’s Purchasing Manager Index rose to 55.2 points – up slightly on October’s figure.

Tim Moore, economics director with S&P Global, said there had been a clear acceleration of growth in the second half of the year.

But a loss of momentum in new work and concerns about rising employment costs had resulted in “falling business optimism” across the sector.

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Acorns Nurseries has raised over £14,000 for the British Heart Foundation, in memory of a decorator who passed away earlier this year.

Known as Potty Painter by staff and the kids, the tradesman was a treasured part of the nursery community for more than 30 years.

Cherie Wilson, director with Acorns said Potty was “an inspiration to us all”.

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