UK steel imports will be cut by 60% from 1 July under the government’s new Steel Strategy, with any volumes above the reduced tariff-rate quotas facing a 50% duty. The move is likely to raise prices for rebar, structural sections and plate used in major UK infrastructure and building projects, particularly where designs rely on imported grades or mill sizes. Contractors and designers may need to recheck cost plans, procurement schedules and material specifications for projects tendering or breaking ground in late 2026.

Geoscience Australia is marking 80 years of geological and geophysical operations by launching a new 10‑year national geoscience strategy to guide exploration, resource assessment and hazard mapping. The strategy is expected to steer federal investment in continent‑scale datasets such as deep seismic profiles, gravity and magnetics surveys, and national drilling programs that support critical minerals targeting. For miners and consultants, the roadmap signals continued access to pre‑competitive data to de‑risk greenfields exploration and infrastructure planning across remote basins.

The UK government’s proposed ban on cash retentions in construction, following a year-long consultation, is being hailed by trade bodies such as the ECA and NFRC as a long-fought win for specialist contractors previously exposed to withheld payments used as free working capital. Legal and commercial advisers including Kennedy’s Amanda Hanmore and Osborne Clarke’s Daniel Cashmore warn the ban could drive higher project costs via performance bonds, more back‑loaded payment schedules and milestone‑only payments, and trigger more disputes over incomplete or defective works. BCIS chief economist David Crosthwaite points to project bank accounts and alternative defects and quality mechanisms as critical to maintaining delivery standards and payment security across supply chains.