Budget 2020: Prepare yourselves for the government’s construction strategy

By Chloë McCulloch2020-01-15T06:00:00

What can construction expect from March’s Budget amid low demand for new orders?

On Monday we discovered that the UK economy shrank in November – unwelcome and unexpected news which pushed sterling even lower against the dollar. The ONS figures confirm the widespread view that 2019 was dominated by political uncertainty, Brexit fears and weakening global demand, with November’s 0.3% fall in GDP being the fourth consecutive month with no growth.

As we know, construction’s fate is closely tied to the health of the national economy. But surprise, surprise, construction output bucked the trend growing 1.9% in the month. In fact, the picture looks even better if you consider new work output for the year to November, when it grew 3.1% on the previous year.

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