The cost of living crisis is something that’s repeatedly filling our news streams with reports of how this is affecting people, businesses and whole industries.
Now, it has been revealed that, during 2022, high levels of inflation on building materials has made its mark on the UK’s construction sector – taking the total cost of construction output for the year to a record level of £204bn.
Read on for more on this story as well as what the experts are predicting for 2023…
On 6th September, Liz Truss formerly became the UK’s 80th Prime Minister, moving into number 10 Downing Street and no doubt inheriting an in-tray as high as some of London’s skyscrapers!
In her debut speech as PM, Truss talked about her vision for an “aspiration nation” characterised by tax cuts and business-led growth, and talked about three priorities – tackling the energy crisis, supporting the NHS and boosting the economy. Claiming her mission was to “get the UK working, building and growing’, the new Prime Minister gave little detail of how that might come about and interestingly made no references to net zero, nature or climate change.
With the construction industry facing economic challenges around rising costs plus labour and materials shortages alongside environmental challenges around emissions, energy efficiency and waste, industry leaders have been quick to react to the new PM’s appointment. In this week’s blog, we’re sharing what some had to say.