Construction Insolvencies Leap By 55% In Three Months

The number of construction firms falling into administration leapt by over half during the third quarter of the year. According to KPMG restricted access to finance, rising input prices and project delays caused by political uncertainty have started to take their toll. Administrations in the sector jumped up from 49 in the second quarter to 76 in the third quarter of this year which saw Pochin’s as one of the high profile victims. Regional contractors like the North West’s Marcus Worthington and South West’s Dribuild also went to the wall in the worsening economic climate. Read more on the Construction Enquirer website.

http://www.constructionenquirer.com/2019/10/23/construction-insolvencies-leap-by-55-in-three-months/

Social Landlords Face Huge Admin Burden Over Universal Credit Issue

Social landlords have warned they face a huge administrative burden next year unless the government implements reforms to the way rent changes for tenants claiming Universal Credit are processed. Major housing associations could incur extra costs and see resources diverted from mitigating the impacts of Universal Credit, unless the government makes swift changes to the way rent changes are recorded, and allows them to update information in bulk. The DWP told housing associations in February that it would enable them to record rent cost changes in bulk on behalf of tenants claiming the new benefit system from April, but these changes were never put in place. Read more on Inside Housing.

https://www.insidehousing.co.uk/home/home/social-landlords-face-huge-admin-burden-over-universal-credit-issue-62638