News

THE Leeds City Region has launched a new £10 million fund – with backing by City of York Council – to support major construction projects and bring more jobs and growth. Submissions of interest for short term debt finance for commercially viable projects are being invited. The fund will target large scale asset based construction projects including housing, with the minimum investment level set at £1 million. York council’s ruling cabinet has approved a £1.6 million investment in the Revolving Investment Fund.

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A complex tax fraud involving the supposed sale of fictitious concrete crushing machines has led to the conviction of a gang of 17 people. The gang, masterminded by Paul Hackney from Stoke-on-Trent, set up a string of companies to steal money from HM Revenue & Customs (HMRC) so that they could buy high performance cars, expensive jewellery and exotic holidays at the taxpayer’s expense. They had helped themselves to £2.3m before they were caught. The group fabricated transactions and sales of construction equipment. They produced fake invoices and paperwork to try and make their companies look like legitimate traders to reclaim VAT on sales and exports. They did not pay any VAT as the ‘goods’ didn’t exist. HMRC assistant director of criminal investigation Adrian Farley …

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Sellafield failed by private clean-up firms: Series of expensive mistakes has led to review at nuclear plant The Government is expected to take back control of the clean-up of nuclear waste at Cumbria’s Sellafield, following a string of failures by a private sector consortium of US, French and British engineers. Alarmed by spiralling budgets – £70bn and counting – and a series of delays to crucial projects, the Nuclear Decommissioning Authority (NDA) has quietly drafted in a team of consultants from the accountants KPMG to review how Sellafield is run, The Independent on Sunday can reveal. It is running through three options to sort out a situation in which 12 of 14 major projects were behind schedule last year, as well as last month’s £700,000 …

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A £4m housing scheme on Liverpool’s Boot Estate has transformed 74 derelict properties earmarked for demolition a decade ago into quality eco-homes. Liverpool Mutual Homes (LMH) has overhauled the three-bedroom properties as part of the Ellergreen Development. The project was financed via resources from LMH, funds from the Community Energy Saving Programme – a subsidy from an energy company in return for carbon reduction savings – and a £750,000 contribution from Liverpool City Council. The homes feature a range of green technologies that will reduce tenant’s fuel bills and cut carbon emissions by 3,000 tonnes making them more efficient than new build house regulations demand. Solar panels have been fitted to some roofs to provide electricity and ‘A’ rated double-glazed windows and doors installed to …

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Midlands-based groundworks specialist PGC Contractors Ltd is in administration. Insolvency specialist Ninos Koumettou of Alexander Lawson Jacobs was appointed administrator on 17 July. PGC Contractors has been in operation for 18 years. According to its website, it was turning over £8-10m a year from 11 clients, including Vinci, Tolent, Kier, John Sisk and Thomas Vale. It took on a wide range of groundworks projects, including retaining walls and flood defences, as well as reinforced concrete frames up to four storeys and bridge works. Sister company Trafalgar Hire is believed to be unaffected.

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A mobile crane crashed in to a concrete barrier on London’s M25 in the UK over the weekend closing it down for a short period. The incident occurred on the orbital highway’s anti-clockwise direction between Junction eight and nine in Surrey. The crane a five axle Grove GMK250 is owned by Bronzeshield Crane Hire, fortunately no one was hurt in the incident. An investigation into what happened is underway

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An increase in house building could be on the cards in certain areas, thanks to new legislation being brought into force by the government that will give social tenants the power to boost house building in their area. Right to Transfer, which is coming into force in the autumn, will mean that tenants can take control over future investment into their communities by requesting new homes to be built. The plans will work alongside the £19.5bn public and private investment to build 170,000 affordable homes by 2015, and plans in the Spending Review to invest £3.3bn to deliver 165,000 affordable homes over 3 years from 2015 – equivalent to the fastest annual rate of housebuilding for 20 years. As part of the deal, housing associations will need to show plans in …

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