As the UK leaves the EU officially and the economic uncertainty that has shadowed the entire Brexit journey begins to recede, RLB UK releases its Tender Price Forecast for Q1 2020.
Running in parallel with the continuing uncertainty over the final transition period outcome, RLB UK’s regional offices note a reduction in the number of tradespeople moving to the UK from Europe. Speculation is that this decline may worsen as the Government finalises its policy on migration and skilled workers. Additionally, there are concerns that the costs of materials are exceeding tender price uplifts, due to stalled projects and general hesitancy in the market.
However, manifesto promises including the investment in infrastructure, especially with the recent green light for HS2 and additional funding for healthcare, could result in higher public sector spending. The question remains whether the time taken to bring these projects to fruition will prolong the pressures on the UK market.
While the unique position of negotiating the UK’s exit from the EU will bring its own challenges, there is no doubt the political and economic outcomes of the next year will shape the future of the UK built environment for 2020 and far beyond.
For more insights and analysis, download RLB UK’s Tender Price Forecast for Q1 2020 here.