AUDIO NEWS: Working for family costs the trades £1.2 billion and construction output drops in November
Posted: Thursday, December 7th, 2023
Working for friends and family costs UK tradespeople an estimated £1.2 billion per year, claims a report by Direct Line Business Insurance. The firm’s report says tradespeople lose on average £1,400 a year doing work for free or at reduced rates. Nearly two thirds of survey respondents said they’d been asked to work for free by friends and family. 39% of the tradespeople said they were “frequently” asked to work at a discount by friends or relatives. --- Construction output dropped marginally in November as the house building slump continued – that’s according to a poll of construction purchasing managers. CIPS’ Purchasing Manager Index showed that construction output remained flat for the third month running. On the bright side, greater price competition, falling demand and lower raw material prices contributed to the steepest decline in purchasing costs in 14 years. Tim Moore, economics director with S&P Global Market Intelligence said the “survey indicated that overall input prices decreased for the second month running and at the fastest rate since July 2009”. --- And finally, a bricky that left school at 16 without any GCSEs, is now making £10,000 per month. Kurt Malpass, now 26, fell in love with trade after being put on a course while at school “for kids that don’t listen”. Malpass went self-employed after just three years, and has since brought his first house. --- To listen to the construction news, please click below
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