UK finances show big borrowing surplus and construction firms value up 9%

  • 21 Feb 2017

Howard Chapman, Buildingtalk Editor reports on the the biggest public sector net borrowing surplus in 17 years and the value of large construction companies is up 9%

Best borrowing surplus in 17 years

Boosted by self-assessment tax receipts, January is usually a strong month for government finances. However, better than expected results show that we have had very good news on the state of government’s finances with Chancellor Hammond’s reporting on nearly ‘£10bn of green shoots’.  

Fullscreen capture 21022017 143321

The latest Public sector finances bulletin from the Office of National Statistics (ONS) reports the lowest UK year-to-date borrowing since the financial year-to-date ending January 2008. In fact, the public sector net borrowing was in surplus by £9.4 billion, the highest January surplus for 17 years! (Link to full ONS report).

Economists say strong tax receipts mean the government could undershoot the forecast deficit of £68bn for the current financial year. Borrowing for the financial year could be less than £60bn.

Big growth in value of construction companies

Confidence in the UK economy continues to grow and the value of large construction companies is up 9%

A new study from UK business analysts Plimsoll reviewed the financial health of the largest 1500 construction businesses. Their study revealed that the UK’s largest construction companies are growing by an average of 9% in value over the last 12 months.

Though we need to remind ourselves that we are still living in pre-Brexit world, some forecasters are still very optimistic about the outlook for UK finances.

John Hawksworth, chief economist at PwC, said “Overall, the public finances now look in rather better shape than they did three months ago, and more in line with other data showing a relatively robust UK economy in the period since the Brexit vote”.

Leave a Reply

Latest news

Nationwide Windows

Nationwide launch next generation GRP fire door range

Nationwide Windows & Doors has devoted time, clever product design and testing at levels never previously seen to launch its next generation GRP fire door range.

Posted in Access Control & Door Entry Systems, Articles, Building Industry News, Building Products & Structures, Doors, Health & Safety, Innovations & New Products, Retrofit & Renovation, Security and Fire Protection, Windows

Aggreko

2020 weather data proves humidity concern for construction say Aggreko

Data showing spiking humidity levels on construction sites are a growing concern for the sector, according to a new report from temporary power company, Aggreko.

Posted in Articles, Building Industry News, Building Services, Facility Management & Building Services, Health & Safety, Heating Systems, Controls and Management, Information Technology, Posts, Research & Materials Testing, Site Preparation, Thermal Imaging and Monitors

Kingspan

Kingspan chosen for affordable housing scheme

Leading housing provider Stonewater is taking full advantage of the excellent thermal efficiency of Kingspan Kooltherm K108 Cavity Board at a new affordable housing development in Dorset.

Posted in Articles, Building Industry News, Building Products & Structures, Building Services, Case Studies, Insulation, Restoration & Refurbishment, Retrofit & Renovation, Walls

Freefoam

The Power of Many: national supply, local service from Freefoam

Freefoam has strong ties with contractors, architects and specifiers, thanks to its ‘The Power of Many’ approach.

Posted in Articles, Building Industry News, Building Products & Structures, Cladding, Posts, Restoration & Refurbishment, Retrofit & Renovation, Roofs, Walls