Issue 5, Vol 1

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FEDERATION NEWS

FSDF Golf Day

Now taking Bookings Click to find out further information

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Exhibit at IMHX with the FSDF

This year FSDF will be supporting the IMHX show at the NEC with a Food Logistics Pavilion. Click to find out further information

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Julie Pizzey running the Brighton Marathon

Click here

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Remember FSDF are members of BSI

Click here

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COMMITTEE FOCUS

Technical and Safety

First aid at work assessment tool

The tool is designed to help employers determine the number and type of first-aid personnel to provide in their workplace. It complements the detailed guidance in: First aid at work. The Health and Safety (First-Aid) Regulations 1981. Approved Code of Practice and guidance (L74). Click here for more information

 

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No panic on R22 yet but all refrigerants could be in short supply this year

While dire warnings of R22 shortages have so far not materialised since the ban of virgin R22 at the beginning of the year, there are reportss that shortages culd affect all refrigerants this year.Click here to read more

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Business Affairs

FSA - New Operations Group for the Agency

The Food Standards Agency (FSA) announced in July 2009 its intention to form a new Operations Group in 2010. This took effect from 1 April 2010 when the Meat Hygiene Service (MHS) and FSA merge.Click here for more details

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Logistics Management

Be prepared for stricter sideguards checks

From May this year vehicle sideguards will be subject to stricter compliance checks during annual testing.Click here

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Increasing the uptake of eco-driving training for drivers of LGVs and PCVs

The DfT is considering options to achieve a 90 per cent uptake of eco-driving training for drivers of Large Goods Vehicles (LGVs) and this consultation document invites views that will help inform this.Click here

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The Transport Operators' Pack (TOP)

The Transport Operators' Pack (TOP) is designed for those with day-to-day vehicle and driver responsibility. Click here

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Green Transport for Thistle Seafoods

A new distribution agreement with frozen and chilled food consolidator Reed Boardall has enhanced environmental credentials for Thistle Seafoods in Peterhead, Scotland. Click here

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BUSINESS NEWS

Department for Business, Innovation and Skills - Free Government Employment Law advice, straight to your desktop

Relying on professionals for employment law advice can be expensive. You can save both time and money by managing more of it yourself.Click here

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The fit note scheme

Sickness absence remains a source of great irritation and real cost to many employers. A recent CBI survey suggested that an estimated 172 million working days were lost to sickness absence in 2007, with an annual cost to the UK economy of £13.2 million. Click here

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Occupational health adviceline for small business

The occupational health adviceline launched in nine locations on 7 December 2009.Click here

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TDG strengthens presence in aviation fuel sector

TDG has invested in a new aviation fuel fleet following a deal to supply a number of airports in the UK. Click here

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Fraud office set to probe British Seafood collapse

The Serious Fraud Office is expected to examine the shock collapse last month of British Seafood. Click here to read more

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Castlecool wins another award for outstanding business performance

Recognised by Deloitte as well as the Small Firms Association Click here to read more

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CBI NEWS

Latest Economic update from CBI

For update please click

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LEGAL UPDATES

National Minimum Wage - clampdown on employers

The Department for Business, Innovation and Skills (BIS) recently announced the formation of HM Revenue & Customs’ (HMRC) new Dynamic Response Team to work on high-profile and complicated National Minimum Wage (NMW) cases investigated by HMRC To read more click here

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FSDF Golf Day

 

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Exhibit at IMHX with the FSDF

 

 

 This year FSDF will be supporting the IMHX show at the NEC and will be organising and managing the Food Logistics Pavilion.

The show runs from 16-19 November and presents a unique opportunity to showcase your solutions and services to key food and drink supply chain decision makers. Stands are available in the Food Logistics Pavilion in 3m x 2m and 4m x 2m sheel scheme booths. For more information and to book your space at the show contact Rob Fisher on 01895 454 442 or email robfisher@quartzltd.com.

Spaces are limited and there is a discount for FSDF members.

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Julie Pizzey running the Brighton Marathon

Julie and her running buddy are running the Brighton Marathon on Sunday 18th April.

Julie is running the marathon for CLIC Sargent to support children with Leukemia and Cancer. If you can donate even a small amount to the cause that would be great. She has run a half marathon in 2008 and many 10k races over the years but this will be a real challenge to both mind and body.

To donate to her event, click on the link below, or let us know if you would rather not donate over this website and we will keep a record of your pledge.

We will keep you posted on her progress.

To sponsor Julie please click the following link:

http://www.justgiving.com/Julie-NeilMarathon

To find out more about CLIC Sargent:

http://www.clicsargent.org.uk/Aboutus

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Remember FSDF are members of the BSI

Just a reminder that if you need any BSI quality guides or standard specifications. They are available through FSDF office. Your federation is a BSI Member and we can obtain these at significant discount which of course we will pass on to you (less a handling fee).

 

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First aid at work assessment tool

The tool is designed to help employers determine the number and type of first-aid personnel to provide in their workplace. It complements the detailed guidance in: First Aid at Work. The Health and Safety (First-Aid) Regulations 1981. Approved Code of Practice and guidance (L74)[1]

To use the tool, you need to enter information on the degree of hazard and number of employees in your workplace. It will then suggest the number and type of first-aid personnel to provide at all times people are at work. A series of questions then highlights additional factors that could influence your overall first-aid provision.

Completion should take no more than a few minutes and you can print out a copy of your responses.

It is important to remember that the tool serves as a general guide only. You should take into account all relevant circumstances to make a valid judgement. The guidance in L74[2] provides further details.

To download the tool please click following link :

http://www.hse.gov.uk/firstaid/assessmenttool.htm

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No panic on R22 yet but all refrigerants could be in short supply this year

While dire warnings of R22 shortages have so far not materialised sience the ban on virgin R22 at the begining of this year, there are reports that shortages could affect all refrigerants this year.

Ken Logan MD of A-Gas, one of the refrigerant companies offering reclaimed R22, insists that the current situation is much as they expected.

"The demand is there but probably only a 1/3 of what is was last year," he said. "it's a demand we can handle."

Philip Sloper, MD of stockist Thermofrost Cryo, had not experienced any demand of  reclaimed R22. "We have had one request for some but this we are not stocking it at the moment."

Like A-Gas though, Thermofrost Cryo has seen an increase in sales of its "drop in " replacement products. Philip Sloper says that this may be down to cost "Reclaimed R22 is are around 50% more expensice that the replacement blends."

Mark Hughes, marketing manufacturer DuPont, said that although this company was not in the reclaim market that had seen no evidence of panic in the UK. " The crunch will come with the warmer weather and the need to carry out more reactive servicing," he said.

As manufacturer of the Isceon Series 9 replacement refrigerants, Mark Hughes was able to confirm the rising interest in these R22 alternatives.

While the northern European countries appear to be managing the loss of virgin R22 without any great problems, that is not the case in Southern Europe. "In Spain, Greece and east to Poland, the level of preparedness is very low," said Mark Hughes. "Those countries have low levels of reclaimed R22.  I hesitate to use the word panic but some users have only just woken up to the problem.  

There is massive gas replacement activity in Spain and Portugal.  Sales of replacements have gone throught the roof."  John davey of Harp International was also not surprised that there has been no panic over the availability of R22 in the UK.  While Harp supplies refrigerant around the world and to many end user industries not just to refrigeration contractors, he confirmed that is company was now selling "significant quantities" of reclaimed R22.

Asked if he envisaged reclaimed R22 shortages later in the year, he warned: "I see shortage with a lot of refrigerants if the market was to takes off this year, not just R22."

 

R134a shortage

John Davey's concern is shared by many refrigerant suppliers and is based upon the shortages and high prices currently being experienced with R134a.

While many are reticent to discuss it on the record, the scarcity of R134a looks set to continue and it is having a knock-on effect on blends using 134a as well as another blend component R125.

One supplier advised that a number of factors have come together affecting supply and creating what he described as "the perfect storm".  Another said they had never seen anything like it and expected supply problems and price increases throughout this year.

With R134a trade counter prices currently around £7/kg following a 10% increase in March, some have predicted further increase of up to 30% this year.

Supply problems of this sort are nothing new with R134a, similar scenarios were experienced as long ago as 1999 and, more recently, in 2005.  Upturns in other economies, demands for fluorocarbon feedstock from other industries and a general shortage of trichloroethylene, a key raw material in the manufacture of R134a and other blends, are said to be to blame.

 

Source :  ACR News April 2010

 

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Be prepared for stricter sideguards checks

From May this year vehicle sideguards will be subject to stricter compliance checks during annual testing. A new FTA compliance guide will ensure vehicle operators are fully prepared for the Vehicle and Operator Services Agency’s (VOSA) amended requirements.

Following intervention by FTA, the introduction of stricter sideguards checks, originally announced in 2007, was deferred due to suspected difficulties some vehicle operators would have had in complying with the stricter rules.

 

Andy Mair, FTA’s Head of Engineering Policy, said:

“The concessions FTA has achieved will be of immense benefit to operators who would otherwise have had found it impossible to comply with the rules. We now have a sensible, workable set of requirements which will enable every operator to comply, regardless of their vehicle’s configuration, whilst keeping safety considerations paramount.”

The FTA Sideguards compliance guide gives full details of the existing legislation regarding vehicle sideguards and the changes to the annual test requirements which will be implemented from 1 May, plus details of general sideguard construction requirements.

The main technical changes which have been agreed include:

* A concession for vehicles with cranes which have access and operating platforms;

* A concession for vehicles where it is technically not possible to fully comply with dimensional requirements (such as folding cranes stowed behind cabs in the sideguard area);

* Acceptance of sideguards constructed to the technical requirements of EC Directive 89/297/EEC (EC Directive standards require a lower top rail height than Construction & Use, which is beneficial to crane and tanker operators).

Source: FTA

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FSA - New Operations Group for the Agency

The Food Standards Agency (FSA) announced in July 2009 its intention to form a new Operations Group in 2010. This will take effect from 1 April 2010 when the Meat Hygiene Service (MHS) and FSA merge.

The FSA Operations Group will streamline and improve the Agency’s approach to compliance with official food and feed controls across the United Kingdom and will support the Agency’s priority to always put consumers first.

Tim Smith, FSA Chief Executive, said: 'Creation of the FSA Operations Group will improve the effectiveness of the FSA as a regulator, improve public health protection, and build on and strengthen our relationship with our stakeholders. It will also help us to deliver the commitments set out in our Strategic Plan for the next five years.'

The Operations Group will have UK responsibility for delivery of official controls (such as dairy hygiene, eggs and shellfish) through other enforcement agencies, including the Department for Food and Rural Affairs, Animal Health, the Department of Agriculture and Rural Development Northern Ireland, and the Scottish Government’s Rural Payments and Inspections Directorate. Additionally, the group will continue to work closely to support the work of local authority enforcement of food and feed hygiene and food standards.

All existing regulatory functions undertaken by MHS operational staff in approved meat premises will continue to be undertaken by the same staff in the same way. As the MHS does not operate in Northern Ireland, the equivalent service will continue to be provided by the Department of Agriculture and Rural Development on behalf of the Agency.

Anticipated benefits of the new Operations Group include:

* Providing coordinated and consistent support to UK food and feed businesses and delivery partners to help compliance with official controls and other statutory requirements.

* Ensuring that regulation is effective, risk-based and proportionate.

* Improving the sharing of knowledge, information and expertise throughout the Operations Group to provide a better understanding of which interventions are most effective in delivering compliance.

* A consistent and targeted UK approach will contribute to improvements in public protection of food safety and a reduction in instances of foodborne illness.

* A structure that will help deliver strategic objectives in line with external expectations and drivers – for example, the recommendations arising from the 2009 Report of the Public Inquiry into the September 2005 outbreak of E.coli O157 in South Wales and recommendations of EU Food and Veterinary Office Missions.

* Driving internal improvements for efficiency and effectiveness, freeing up resources to enable work on the issues that will really make a difference to food safety.

* Savings of approximately £2 million are forecast to be generated through the merger, mainly through back office efficiencies.

source : http://www.food.gov.uk/news/newsarchive/2010/mar/ogroup

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Increasing the uptake of eco-driving training for drivers of LGVs and PCVs

The DfT is considering options to achieve a 90 per cent uptake of eco-driving training for drivers of Large Goods Vehicles (LGVs) and this consultation document invites views that will help inform this. It also considers whether a similar approach should be adopted for drivers of Passenger Carrying Vehicles (PCVs). This consultation document does not make specific amending proposals which would be the subject of a separate consultation if necessary.

Download documents Consultation document (758 kb)

Reply to consultation

Tel: 0207 944 6170

Fax: 0207 944 6523

Email: freight@dft.gsi.gov.uk

Post:

Freight and Logistics Division

2/14 Great Minster House

76 Marsham Street

London

SW1P 4DR

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The Transport Operators' Pack (TOP)

 

The Transport Operators' Pack (TOP) is designed for those with day-to-day vehicle and driver responsibility. TOP provides excellent practical ‘every day’ support material to help fleet operators implement best practice in the workplace and will act in direct support of tasks essential to running a successful fuel management programme.

It includes helpful checklists and spreadsheets, forms to assist in the collection of fuel data, presentations, posters and key fact reminders.

 

 

Please note that the Transport Operators' Pack is no longer available to order but can be downloaded in full from the Resource Centre.

Download This PDF

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Green Transport for Thistle Seafoods

A new distribution agreement with frozen and chilled food consolidator Reed Boardall has enhanced environmental credentials for Thistle Seafoods in Peterhead, Scotland.

Supplying frozen seafood products to retailers and food service companies, Thistle Seafoods is one of the top fish processing companies in the UK. It specialises in frozen fish fillets and added value fish product, currently employing more than 300 people at its state-of-the art facility at Boddam on the Aberdeenshire coast. It has the capacity to produce around 100 tonnes of product a day and, including its export business to Europe and North America, sales are in excess of £60m per annum.

Given their involvement with the fisheries, sustainability is a high priority at the family owned business so the fact that Reed Boardall transports around 90% of Thistle Seafoods produce in double deck trailers is a significant bonus.

“These refrigerated giants carry 40 pallets rather than the usual 26,” explains Tony Scatterty, managing director at Thistle Seafoods. “This equates to almost double the load for the same carbon footprint.”

In addition, Reed Boardall’s ability to consolidate orders at its single site in Boroughbridge, North Yorkshire is seen as a distinct advantage by Thistle Seafoods for the distribution of its products.

“Everyone is striving to be green and the frozen food market is no exception,” explained Tom Cassells, managing director of Reed Boardall Transport Limited. “We are the only single-site consolidator within Britain’s frozen food industry and this is helping food manufacturers and retailers meet their environmental targets in many ways including minimising vehicle journeys. The number of suppliers we serve ensures that more vehicles are full more often, which in turn guarantees lower CO2 emissions in the supply chain.

“Added to which, companies such as Thistle Seafoods benefit from our ability to consolidate and deliver full orders to supermarkets and food wholesalers on a daily basis. For example, if a food manufacturer in Scotland is asked to deliver two pallets to Portbury, near Bristol, it’s more than a day’s drive and the order becomes an inefficient, logistical nightmare. Our critical mass on the A1 in North Yorkshire enables us to immediately reduce journey times and we can fulfil orders efficiently within 12 hours if needs be.”

Collaboration between Reed Boardall and Thistle Seafoods says it all. Mr Scatterty confirms that his company is achieving true service levels of 99.6%

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Department for Business, Innovation and Skills - Free Government Employment Law advice, straight to your desktop

 

 

Free expert advice at your fingertips

 

Relying on professionals for employment law advice can be expensive. You can save both time and money by managing more of it yourself.

So to help you we've created the Employment Law Organiser. It's a free, easy-to-use tool you can download to your desktop so you'll always have up-to-date, legally accurate employment law at your fingertips: Key information in handy summaries

Everything you need to meet your employment obligations

From recruitment to retirement and everything in between

All the information comes straight from the Government, so by following the advice laid out in your Employment Law Organiser you'll normally be doing enough for your business to meet its legal obligations.

It only takes a few minutes to download your free Employment Law Organiser. And for even more free legal guidance at your fingertips, why not bookmark  businesslink.gov.uk/employingpeople

To download and use your Employment Law Organiser successfully your system requires Adobe® AIR®. To download please click here

Source:  BIS

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The fit note scheme

Sickness absence remains a source of great irritation and real cost to many employers. A recent CBI survey suggested that an estimated 172 million working days were lost to sickness absence in 2007, with an annual cost to the UK economy of £13.2 million.In order to help more employees get the support that they need to return to work, the Government has introduced a new “fit note” scheme. This replaces the previous “sick note” scheme from 6 April 2010. The problem with the previous system was that doctors could only advise patients on whether their health condition meant they should or should not return to work. Their employers did not have the opportunity to consider how they could help them to achieve an earlier return to work. The aim of this revised Statement of Fitness for Work (as the “fit note” is known officially) is to enable doctors to provide the employer and the employee with simple, clear and practical advice about the employee’s fitness for work. The statement will allow the doctor to consider not only whether the patient is unfit for work, but also whether the patient may be able to do work based on the assessment of the employee’s health condition.

The main features of the “fit note”

There is no box for “fit for work”; rather the doctor may advise that the employee is either:

 “unfit for work” or

 “may be fit for work, taking into account the following advice”.

The “advice” from the doctor in the statement may

suggest that the employer discuss one or more of the following with the employee:

 a phased return to work (eg a gradual increase in

the intensity of the work duties)

 altered hours (although not necessarily a reduction in working hours)

Expert View

 amended duties (to take into account the patient’s condition)

 workplace adaptations (eg changes to workstation or parking arrangements).

The doctor will add information on the functional effects of the employee’s condition and what could help a return to work. If the doctor believes that an assessment by an occupational health professional is required, this will be stated here. The doctor will also state the period that the advice covers, including precise dates during which it applies.

A doctor may therefore give a “may be fit for work” statement if he or she believes that the patient’s health condition may allow a return to work with suitable support from the employer.

There is no option on the form for a doctor to advise that someone is fully fit for work, but the doctor may still advise that the employee is too ill to work.

Dealing with a “may be fit to work” statement

 The employer should consider the GP’s advice on the statement, how it affects the job and the workplace, the functional comments, any of the return to work boxes and any other suggested action that could assist the employee’s return to work.

 Discuss the options with the employee.

 If a return to work is agreed to be possible,

the date of this return and any necessary amendments can be agreed, with a further date agreed for a review.

 If a return to work is not agreed, the employer will agree a next review date with the employee.

Reduction in sign-off period

The maximum sign-off period for sick employees is reduced from six months to three months. This is intended to support the individual’s return to work at the earliest opportunity

What stays the same?

The following features remain from the previous scheme.

 In the event of an employer not being able to facilitate a change or adjustment, the advice given on the statement will be evidence that the employee has a health condition (injury or illness) which prevents him or her from carrying out the current role.

 The statement is still not required until after the seventh calendar day of sickness.

 There is no change to the requirements for the payment of Statutory Sick Pay or employers’ obligations under the Disability Discrimination Act (DDA) 1995.

Some conclusions

The advice on the statement is not binding on the employer, but he or she should be aware that it may state that the employee on sickness absence is “disabled” for the purposes of the DDA; any suggested changes may constitute, therefore, “a reasonable adjustment” under the 1995 Act.

An employer’s failure to consider this statutory obligation could have severe legal consequences. It remains to be seen whether the new scheme is a cure for the sickness absence problem. Nevertheless, employers should review their current policies to ensure that they reflect the “fit note” scheme.

 

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Occupational health adviceline for small business

The occupational health adviceline launched in nine locations on 7 December 2009. From 1 April 2010 the service will be extended to all small and medium sized businesses in Great Britain providing them with free, professional and confidential workplace health support from qualified occupational health nurses.

Services include:

• Managing individual employee sickness absence

• Advice about physical health conditions

• Advice about mental health conditions

• First aid information

• Drug and alcohol advice

• Answers to questions raised by the new ‘fit note’

Opening Hours:

• Monday to Friday 9am – 5pm (9am – 4.30pm on a Friday in Scotland)

Service details:

England

Health for Work Adviceline

0800 0 77 88 44

www.health4work.nhs.uk

Scotland

Healthy Working Lives Adviceline

0800 019 2211

www.healthyworkinglives.com

Wales

Health at Work Advice Line Wales

0800 107 0900

www.healthyworkingwales.com

 

Further information

For further information on the occupational health adviceline project please visit

www.workingforhealth.gov.uk or email oh.adviceline@dwp.gsi.gov.uk

 

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TDG strengthens presence in aviation fuel sector

TDG has invested in a new aviation fuel fleet following a deal to supply a number of airports in the UK.

 

‘We already store aviation fuel at our Dagenham terminal in Essex, but this move marks a reintroduction into the delivery market for us,” explains sector operations director, David Heath. “We will be supplying a number of airports around the south east and expect this to be a growing market.”

 

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Fraud office set to probe British Seafood collapse

 

The Serious Fraud Office is expected to examine the shock collapse last month of British Seafood.

The SFO an arm of the government that investigates suspected cases of serious or complex fraud is set to examine the circumstances behind the demise of the £300m-a-year conglomerate. It is understood it will be seeking a meeting with the administrators soon.

However, a spokesman for British Seafood founder Mark Holyoake said "there has been no mention or discussion of the need to involve the SFO".

Meanwhile, it has emerged that MCR, which is handling the sale of some of the group's individual companies, rejected a management buyout bid for British Seafood company Seatek UK.

Seatek managing director Brian Pound and the company's financial and purchasing directors were let go last week after MCR rejected a management buyout, sources told The Grocer. MCR said it was still trying to find a buyer for fresh, frozen and ambient seafood distributor Seatek, the biggest company based in London's Billingsgate Market.

"Seatek is still trading while a buyer is being sought," said the administrator. However, industry sources are sceptical a buyer will be found. It is likely MCR will trade out the company, particularly after the senior management team have all been let go.

"The administrator said he would prefer to sell off the stock and collect the debt book rather than accept the offer. He said he would get more for it by trading it out," said a source formerly employed by British Seafood. "It's sad, as the Seatek business was profitable."

Seatek's last audited account statement for the year ending 31 December 2008 shows a turnover of £38m and profit of £298,000. However, the amount of capital required to get the business going again is considerable, according to an industry insider. "You would need £4m working capital to take the business forward as a going concern," he said.

Source: www.thegrocer.co.uk/articles.aspx

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Castlecool wins another award for outstanding business performance ~ Recognised by Deloitte as well as the Small Firms Association ~

Ireland’s largest independent Temperature Control and Logistics company, Castlecool has won a Deloitte Best Managed Companies award 2010. Internationally recognised, this award is a symbol of excellence for outstanding business performance by a private Irish company on the island of Ireland.

Competing against companies in Ireland and Northern Ireland, Castlecool won this award for best practice in management, operations and service performance. The company also recently won 1st prize at the Small Firms Association (SFA) National Business awards in the Services category, and was nominated in the SFA awards Environmental Sustainability category.

“In an economy where outsourced storage, logistics management and distribution have become key factors in creating more efficient operation and increased profit, Castlecool provides these critical links for the Irish, UK and international supply chains,” said Paul Shortt, managing director, Castlecool.

“Our continued development and expansion over the years has enabled us to support local employment, build strong customer relationships and form strategic alliances all-island and internationally. We are very pleased to receive this prestigious award from Deloitte, following our recent SFA award win. Both awards really reflect our business at it is today, small enough to provide personable local services yet robust enough to provide Ireland wide and international services,” said Paul.

Founded and managed by Paul Shortt, Castlecool has a solid customer base comprising of major food and beverage companies in the dairy and retail food sectors in Ireland and Northern Ireland. The company is located in Monaghan and Louth at three sites Castleblayney, Lough Egish and Dundalk and has a warehousing capacity of 285,000 ft² along with 44,500 pallet spaces.

Castlecools’ unique Food Park concept at Lough Egish is a one-site solution that offers multi-temperature control logistics for its customers. Ingredients, raw materials, packaging and finished product are stored in a chilled, frozen and ambient environment supported by effective vendor management processes.

Services range from temperature controlled warehousing (chilled and frozen) and ambient to blast freezing; tempering; receipt and storage of goods; order picking and packing right through to co-packing; value-added services; cross docking; food sampling and testing; distribution in Ireland, the UK and internationally.

Employing 50 people, Castlecool has plans to expand and innovate in 2010 and provide its services to new industry sectors that require Temperature Control. The company has been in operation for 15 years and has gained a reputation for reliability and expertise in the field of Temperature Control Warehousing and Logistics.

Castlecool is fully compliant with industry standards and has received quality accreditations including BRC; ISO and HACCP.

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CBI recent economic news

# The UK economy grew by 0.4% in Q4 2009, having been revised marginally up from the previous estimate of 0.3%. GDP growth was driven to a large extent by a slower rate of destocking than in the previous quarter. New figures revealed that household savings fell back somewhat from their 11-year high, but remained elevated, while year-on-year growth in real disposable income was the slowest in five quarters.

# Official figures showed that business investment fell by 4.3% in Q4 2009. While this decline is slower than provisionally estimated (-5.8%), the contraction remains sharp, having gathered significant pace on the 0.8% fall in Q3. Business investment remained well down on a year ago, with the annual decline (-23.5%) the fastest on record (since 1965).

# Latest data from the Bank of England showed that mortgage approvals fell slightly in February, now having declined for the third consecutive month, while total lending to households remained subdued. Lending to private non-financial companies continued to fall so that the year-on-year decline (-4.1%) was the fastest on record (since September 1997).

# According to Nationwide, house prices rose by 0.7% in March, almost completely reversing the decline seen in February (-0.8%). However, underlying house price inflation (as measured by the 3 month-on-3 month rate of growth) continued to decelerate.

# The Gfk index of consumer confidence fell marginally in March.

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