All Budget 2009 articles

  • Comment

    Output figures signal more bad news


    The ONS released preliminary estimates of GDP for the first quarter of 2009 and it wasn't pretty. Estimates from macroeconomic forecasters had suggested that GDP would fall 1.5%-1.6% in Q1 compared to the previous quarter. In fact, it was 1.9%. Within the GDP fall in the first quarter, construction ...

  • Comment

    Budget 2009: initial thoughts


    Budget day as ever was interesting and obviously, the devil is in the detail, especially when it is bad news. However, the Chancellor's speech and the Budget document provide us with some initial thoughts. The macro figures are as bad as expected and potentially worse; £175bn public borrowing in 2009/10 ...

  • Comment

    Brace for public investment cuts


    Three things stood out in yesterday's Budget: First, the shocking state of UK public finances, second, the Chancellor's gambling on a very rapid rebound of the economy to make his numbers add up and third, that the construction industry will almost desperately hope for private sector demand to return by ...

  • Comment

    What's in the budget for construction?


    Snap analysis immediately after the event tends to be prone to knee-jerk reaction, but the thing that immediately springs to mind about this budget is the optimism regarding GDP growth in 2010 in 2011. While I wouldn't neccessarily argue with a 3.5% decline for this year, 1.25% growth for 2010 ...

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    Budget reaction: The impact on built assets


    The Budget has placed built assets at the heart of nurturing economic recovery, achieving efficiency savings and delivering better public service outcomes. The Chancellor is now forecasting a budget deficit of £175 billion this year and £173 billion in 2010/11, peaking at 79% of GDP in 2013/14. He is also ...