The Chancellor’s March 26 Spring Statement feels like distant history. Domestic politics has been subsumed by the global story. Our charts have gained a new event marker – 2nd April 2025 or “liberation day”. As with other event markers (Covid-19, the Russian invasion of Ukraine etc) there are huge consequences for economic indicators like growth, inflation, and the path of interest rates. Economic forecasters are now giving themselves a much bigger margin for error.  In our report we ask, what is the price of protectionism? Will the tariffs be inflationary or deflationary for UK construction?

Get in touch if you’d like to receive the full report.