If you’re planning a career in property construction right now; don’t. The credit crunch as pulled down the shorts of that industry and is laughing at the colour of its underpants. Total job losses in this sector number 5,000 since the start of the year. Barratt Developments has now said it will axe 1,200 staff and take an £85m hit in its full-year results. The firm will close two divisions, saving £40m – but the cost of implementing changes is expected to be about £15m. Despite the troubled times, Barrett’s total number of completed projects were up 8% but there’s simply no one prepared to gamble and buy the new homes – home sales dropped 43% in the last six months (ouch!) while housing production will fall to its lowest levels for 50 years. (double ouch!) Barratt is the first housebuilder to strike a deal with its banks, giving it breathing space to pay back its £1.66bn debts. Its been here before: once Britain’s biggest housebuilder, the firm almost went bust in the early 90s but turned things around.

2012 will be here before you know it, bringing in the new money of Chinese, Russian and Indian tourists. A committee of MPs are therefore “baffled” as to why the Government has cut £9m worth of funding to VisitBritain – the agency that promotes British tourism abroad. Heathrow Airport also got a shoe-ing as for the sixteenth time it heads the list of worst European airport for delays. This acts as a disincentive for people visiting the UK – along with a weak pound to the euro, a reputation for poor customer service, and the chance you might be in the same room as Peaches Geldof. Malcolm Bell, chief executive of South West Tourism, said even the biggest brands such as Mars need to be marketed and the UK is no exception. “The Government must realise that tourism is not just about holidays - it delivers much more than economic benefits. It improves the quality of life for people in the area, helps cultural development and attracts investment.”