UK Project Management Round Up

Economy

Amid reports that International Monetary Fund calculations put Britain's lending to bail out banking corporate mismanagement at 89.9% of GDP, the UK Government continues to send mixed messages on how it sees public spending as the approach to leading the economy to safer ground. One the one hand, the Rail industry is expected to undertake two major programmes – Crossrail, the high-speed cross London and the South East rail link; and West Coast Electrification – which between them will cost more than £17 Bn. Some stimulus package!

On the other hand, the regulated water industry have just learned that the Government is capping their price rises, possibly in an effort to appeal to voters in next year's General Election, so that annual water bills drop from private customers. The Regulator has told the 21 water companies to cut back on ‘unnecessary spending' on sewerage and pipe networks in order to cut average household bills from £344 per year to £330. This cut in project expenditure does nothing to reduce the enormous water losses through the Nation's elderly water mains or to prevent flooding.

There is better news from the Stock Exchange which has just reported its best monthly gains for 6 years. The construction sector is also expected to benefit from Government support.


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