Trump's tariffs threaten Britain's small builders, warns FMB
Posted: Monday, April 14th, 2025
The Federation of Master Builders has warned that the ongoing economic situation and trade tariffs imposed by US President Donald Trump will hurt small builders across the UK. Chief Executive Brian Berry, said: "The ongoing economic situation will be of great concern to businesses across the world, with the construction industry no different. The FMB’s State of Trade Survey for Q4 2024 found that approximately 67% of small builders have had to charge higher prices for their services as a result of rising material costs. What is particularly alarming is that 52% of FMB members who experienced rising costs reported lower-than-expected business profits or financial losses, with around 8% saying that rising costs were compromising their business’s viability, putting them at risk of closure." Berry continued: "A prolonged period of economic uncertainty risks major harm to small builders both in terms of products imported from abroad, and the wider impact on the markets, for example with regards to steel manufacturing. At last month’s Spring Statement, the Chancellor Rachel Reeves placed her hopes for economic growth squarely on the shoulders of the nation’s housebuilders, and it is vital the Government gives the industry the support it needs to help rebuild Britain."
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