The latest UK industry statistics come hot on the heels of Trump’s attack on Iran. Last November, with Rachel Reeves signalling a relatively benign budget, major developers were gung-ho and the number of major projects was on the rise. In many ways, Britain’s economy is principally a property market with a sideline in other services and manufacturing. The financial services sector is underpinned by property wealth and makes its money from loans tied to homes, offices and factories. Much of the difficulty faced by building firms, property developers and the servicing companies that facilitate deals stems from the reluctance of consumers to buy homes.

Source: The Guardian March 21, 2026 17:32 UTC