A week dominated by Budget figures also saw hundreds of jobs saved in Northern Ireland and hundreds more created in Manchester.
35% – Hammond’s Budget fudge
Just £15.3bn was in fact new money. The overall £44bn will cover a range of initiatives during the next five years, including £8bn of new financial guarantees to support private housebuilding, a £1.1bn fund to unlock strategic sites, and £400m extra for estate regeneration.
0.5ppt – Growth downgrade for 2017
Among the gloomiest of the chancellor’s Budget announcements was the significant downgrade to GDP projections made by the OBR, with half a percentage point wiped off both this year’s and 2021’s forecasts.
£65bn – Tidal Lagoon Power’s planned spend
Speaking at the CN Summit this week, Mr Unsworth set out Tidal Lagoon Power’s latest proposals centred on the pathfinder project at Swansea Bay and the significantly larger planned project at Cardiff.
270 – McMullen workers rescued
McMullen entered administration on Monday, following the collapse of its parent group Lakesmere. But JRL acquired the Northern Ireland-based business later in the week, with a JRL director telling Construction News it was “business as usual” at the rescued firm.
187% – Rise in social home sales since 2011/12
Figures released by the DCLG have shown that 23,186 social homes were sold in 2016/17 in England. Chartered Institute of Housing deputy chief executive Gavin Smart said that, while Theresa May’s recent announcement of £2bn for affordable homes was welcome, this week’s Budget was ”light on measures that could make a real difference”.
1,000 – Construction jobs at MECD
The contractor has finally signed a £287m deal to build the University of Manchester’s new engineering campus, a year-and-a-half later than expected. Balfour was originally appointed preconstruction director for the Manchester Engineering Campus Development (MECD) in November 2015.