UK's construction sector 'facing double dip fears'
Date posted: 03 Aug 2010
Fears about the prospect of a double dip recession are being seen within the UK's construction sector, an expert from the FMB has noted.
Published by Tim Hill.
Concerns about a double dip recession are currently evident within the UK's construction industry, it has been highlighted.
According to the Federation of Master Builders' (FMB) director of external affairs Brian Berry, the prospect of capital spending cuts in the future may be fuelling these fears among companies operating in the sector.
Along with capital cuts, the expert feels that building firms which specialise in home renovations could also see their workloads fall as people lower their spending on property improvements.
He commented: "There is a danger that we are going to repeat what happened in the early 1990s when we lost over half a million people from the construction industry which resulted in a skills gap."
Last month, the Construction Skills Network suggested that as many as 68,000 construction sector job losses could be seen in the future as a result of cuts in the UK's public sector.
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