Colin Cram's article in Guardian Professional looks at the impact the reductions in government capital spending may have on the construction industry:
"The economy is in recession and, according to some pundits, this is down to reductions in government capital spending on construction. The amount that is currently spent in this area is due to reduce by 25%, from £62bn in 2010-11 to £45bn in 2013-14, with a consequent major impact on the construction industry. A report from the CBI on Monday calls on the government to make smarter use of public finances. Smarter spending can only be a good thing, but how much control does the government really have over infrastructure spending?
It is worth pointing out that spending on infrastructure is not a tap that can be turned on and off. Major projects, such as new roads or widening motorways, have a gestation period of many years...."
To read the full article, click here.
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