Bank of England consults with Hudson on construction sector
24th March 2020 | Hudson Contract
The Bank of England has interviewed our founder and chairman about the latest business conditions in the construction industry
Juliette Healey, regional agent for Yorkshire and Humber, spoke with David Jackson for an hour about strength of demand, trends in costs, prices and margins, employment issues, investment plans and credit conditions.
The central bank has a network of regional agents who gather information about the state of the economy to share with policy makers in the City of London.
The role of the agents is especially important at the moment as the Bank needs accurate data about the impact of coronavirus on the economy.
Speaking afterwards, David said: “The Bank of England understands our unique position in the supply chain for the UK construction industry and the special insight we have into demand for labour.
“We will be supplying regular updates to Juliette and her team over the coming weeks. This information will help the Bank understand what’s happening on building sites across the country.”
Hudson Contract also handed HM Revenue and Customs a proposed package of emergency measures to help small construction firms and the self-employed survive the coronavirus crisis.
Juliette has asked us to share the following details with our clients:
- This comprehensive page by the UK government lists the various measures available.
- Grants and business rate relief measures will be administered via local authorities.
- The Association of British Insurers have issued a statement on business insurance cover here and have a COVID-19 Q&A here.
