How has Brexit impacted the Construction industry financially?

Question

Tom Spilsted · Accepted Answer

The most significant impact was the uncertainty of what the trade deal between the UK and the EU would look like. This lead to many employers wanting contractors to take the risks, and I am sure many deals were struck where the financial upside or downside were more by good or bad luck than detailed risk and opportunity assessment.
Key areas I have seen impacting projects are
1. Shortages of skilled labour in particular in London which was particularly dependant on migrant EU labour.
2. Longer lead times at ports as goods take longer to clear.
3. Increased complexity on VAT and customs duties
4. Reduced number of companies prepared to supply the UK from EU due to slow border clearance and custom systems debugging.
It is difficult to judge the future as the impact of Covid has probably been the more significant issue in the UK

How has Brexit impacted the Construction industry financially?

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