AUDIO NEWS: Tradies owned £3.9 billion claims Ford, and additional NI costs push back construction recovery
Posted: Monday, December 9th, 2024
In the run up to Christmas, UK Tradespeople are owed £3.5 billion in late payments — that's according to a report from Ford. Nearly a quarter of those surveyed said they were concerned about their ability to support their families over the festive period. One in five admitted to using payday loans to make ends meet. Two thirds of tradespeople surveyed also said they regularly experience late payments, while 71% had experienced outright payment refusal, adding further stress to both work and home life. --- The increase in National Insurance contributions due to kick in April next year will add a further 1% of construction costs and delay full industry recovery in 2025, claims a report from Arcadis. The report also predicted the market will diverge next year, as a slow recovery in the housing market. contrasts with the accelerated development in energy and water infrastructure. Ian Goodridge, market intelligence lead at Arcadis said the pace of recovery would be hindered by rising costs, and “heightened risk aversion”, on behalf of clients and contractors. --- James Noll, a Peterborough-based painter won praise online last week after he created a mini pay packet for the 3-year-old son of a customer who’d helped him on the job. Noll said the young child’s “enthusiasm reminded me why I love what I do!” --- To listen to the construction please click below
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