Insolvencies in construction up by a massive 19%

[plasterjfe]

Private sector construction work is proving unable to compensate for the impact of public spending cuts, with firms collapsing at the fastest rate for two years.

Construction industry insolvencies increased in the first quarter for the first time in two years. The number of businesses going bust in the first quarter of 2011 was 948, according to analysis by accountancy firm Wilkins Kennedy. This was a 19% increase from the 796 that failed in the fourth quarter of 2010.
"The government has slashed capital spending on infrastructure across the board in order to plug the deficit and that has pushed the construction sector into a double dip," said Wilkins Kennedy director Anthony Cork.
"The question now is how quickly private sector construction work will be able to pick up the slack left by the public sector. So far this has not happened."




Article from a journal. The Tory government have never been good for construction... its personal

 

[jonst64]

its only gona get worse for now :RpS_thumbdn:

 

[theblones]

flipping eck !!

 

[henry]

The building trade at the moment is over subscribe with workers so it's no wonder firms will go under in this downturn, when labour get back in it will be spend spend spend.

 

[plasterjfe]

The building trade at the moment is over subscribe with workers so it's no wonder firms will go under in this downturn, when labour get back in it will be spend spend spend.

And then it will start all over again. Tony Blair was slagged off all over for mainly having a war on his hands (wich by the way, would have happened on anybody's watch) but in time the Blair era will be looked upon as a golden age











U Heard it here first................................

 

[rockhardsolidplastering]

yep and yet people still provide labour and material upfront


not for me chaps

 

[flynnyman]

yep and yet people still provide labour and material upfront


not for me chaps

Did you get that PM?

 

[rockhardsolidplastering]

Did you get that PM?

i did flynny cheers funny enuff they have advertised before not long ago and i sent them a c.v and copies of qualifications and stuff never heard a peep from them guess the guy they chose did nt work out.you would think they would keep old correspondence and call.

i will re send tho and see whats what so thanks flynn your a good un