John Sinfield, Managing Director of Knauf Insulation is BMBI’s Expert for Mineral Wool Insulation:
So, we voted to Brexit! While our politicians indulge in Caesar-like back-stabbing, the Department of Energy & Climate Change (DECC), has ploughed on with key policy decisions including adopting the Fifth Carbon Budget. DECC even found time to push out a consultation on a new version of its current energy efficiency scheme.
Construction project planning is a long term game. Unless things become more predictable, building-in assumptions on a project’s cost of capital, the cost of imported goods and services, the cost of land or the cost of various currencies will be difficult. Pricing in that uncertainty to UK projects would require the expensive addition of a hedge fund manager and currency speculator to the traditional team.
Anyone who thinks they can tell you today what this means for the country or construction is a fool, or selling something. We’re all going to have to manage through a period of uncertainty until markets and politicians settle; and we understand how this affects consumer confidence. Interesting times ahead…