"The value of new projects had dropped by more than a third in the three months to the end of February. Projects in the category marked major works, worth more than 100m, have suffered the most."
"With Iran almost certain to exact a high price by keeping oil and gas prices elevated, there could be terminal knock-on effects for liberal democracies facing yet another inflation shock."
"The UK economy is underpinned by an obsession with property, and the failure to get the market moving is another major blow to Reeves's growth plans."
Donald Trump's influence has hindered the UK's post-pandemic economic recovery, especially in the property sector. The disruption caused by geopolitical events has led to a significant drop in new project values, with major works suffering the most. Recent statistics show a decline of over a third in new projects, affecting office buildings, civil engineering, and residential housing. The UK economy, heavily reliant on property, faces challenges as inflation pressures mount, complicating growth plans and impacting financial services tied to property wealth.
Read at www.theguardian.com
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