Network hat-trick
24th January 2012

CAB’s fourth Breakfast Network event of 2011 saw over 60 members and guests gain valuable and practical insight into the latest market sector forecasts, the Construction Act and the Association’s work in supporting them.

James Abraham, Economist at Emap Glenigan, offered a forecast of the building industry to 2015. The report was basically in line with members’ current expectations of the market, which showed little or no growth overall for 2012 and 2013, however, there were some areas of growth in their figures.

The government had significantly cut back in all areas of building construction which had hit the industry hard, but one key area of spend was the ‘Crossrail’ Project. While much of investment was on infrastructure, over 200 new stations would also be required which would use CAB members’ products and services. CAB was already involved in various Crossrail shadow groups and informed members when important updates on the project become available.

Retail developments continued to hold up, 65% of the recent spend has come from the major UK supermarkets and this trend is set to continue. Office development was on the increase, particularly in the south where growing rates in London could attract building investment, both for new build and refurbishment.

James finished off his presentation with a slide which confirmed the north/south divide for recovery; while some growth can be expected in the south east in the next couple of years, the north was set to decline slightly, balancing any chance of a speedy recovery from the recession in the UK.

Shaun Whitlock of Systech Solicitors offered delegates an overview of the latest revisions to the Construction Act which was first introduced in 1996. The latest revision came into force on the 1st of October 2011 with some much needed enhancements. The Act made specific reference to contracts, payment terms and agreements to enable sub-contractors a fair cash flow for work completed.

Shaun offered some details of how the Act protected sub-contractors, particularly when they were expected to proceed on the basis of a ‘letter of intent’. Even if the Act was not referred to in any contract, it was now deemed to be in place in all future contacts.

Both speakers offered CAB members and their guests an insight to the changing market and legal status for their businesses. As market conditions, standards and legal requirements continued to change on an ever increasing basis, CAB membership could ensure businesses involved in the aluminium supply chain were kept fully up to date.

CAB’s support advice line is available free to specifiers by contacting CAB on 01453 828851. For more details on CAB and membership contact Julie Harley at julie.harley@c-a-b.org.uk or visit the website at www.c-a-b.org.uk