Construction bankruptcies drop sharply in May, the new prime minister needs to deliver results, and Man U secures land for 100,000-seat stadium
Bankruptcies in the construction sector fell sharply in May — that’s according to figures from the Insolvency Service.
In total 281 building firms went out of business, showing a marked improvement on the previous month, and 385 fewer than in the same period last year.
However, construction businesses still accounted for 16% of the total insolvencies in England and Wales.
Despite the fragile peace agreement between the US and Iran, the impact of prolonged higher energy and materials costs will continue to affect global supply chains and subdue market demand.
---
Whoever takes over as the next Prime Minister must turn pro-building rhetoric into meaningful delivery, the FMB claims.
Rising costs, planning delays, a dearth of skilled workers, and weak consumer confidence continue to prevent small, local firms from building homes.
The Labour government’s ambitious plan to build 1.5 million homes by 2030 has yet to translate into “delivery on the ground”, said the trade body.
---
And finally, Manchester United has secured most of the land needed to build a 100,000-seat stadium.
The stadium, dubbed New Trafford, will cost an estimated £2 billion and overtake Wembley as the country’s largest sporting venue.
The club still needs to acquire several smaller land interests and negotiate with existing leaseholders before it can formally go ahead.
---
To listen to the construction news, please click below
