HOUSEBUILDERS SIGN UP TO GOVERNMENT?S CLADDING SAFETY PLEDGE

Five of the biggest housebuilders have confirmed they will sign up to the government's building safety pledge. Crest Nicholson, Persimmon, Taylor Wimpey and Berkeley all announced this yesterday, with Redrow saying it would follow suit this morning. Further announcements from the government are expected this week on the issue of cladding remediation costs (The Times). The commitments made mean these companies will have to increase the amount of money they are provisioning for to fix flats with fire safety problems (Financial Times).

UK CONTINUES TO HAVE A GENDER PAY GAP

There continues to be a gender pay gap in the UK, according to the latest disclosures made by a range of organisations including large companies, charities and government bodies. The median pay gap reduced slightly from ten per cent to 9.8 per cent, meaning that on average women earned 90.2p for every £1 men earned (The Times).  Analysis carried out by the Chartered Institute of Personnel and Development found the construction sector had the largest gender median pay gap; the smallest gaps were in human health and social work activities (Guardian).

NEWS IN BRIEF

The increased national insurance contribution rates come into effect today (BBC News).

Retailers, hospitality groups and housebuilders are facing disruption from a rise in Covid-19 staff absences (The Times).

More electric cars were sold in March than in the whole of 2019, with electric cars accounting for 16 per cent of new car sales (Telegraph).

EU member states will today discuss a proposed ban on Russian coal imports as part of a new round of sanctions on Russia (Financial Times).

The services sector's PMI figures, compiled by S&P Global and the Chartered Institute of Procurement and Supply, rose for the third consecutive month in March (The Times).