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Construction News
16/10/2012
NFB Calls For Urgent Action To Help Construction SMEs
The NFB has called for urgent government action to help construction SMEs to rebuild the economy, following the latest figures from the Office of National Statistics on construction output.
The total volume of construction output in August 2012 is estimated to have been 11.6 per cent lower than in August 2011.
In the three-month period from June to August 2012 compared to the same period in 2011:
•The volume of construction output decreased by 11.9 per cent. New work decreased by 15.6 per cent and repair & maintenance decreased by 4.2 per cent
•Over the same period, the volume of new public housing work decreased by 20.7 per cent; new private housing decreased by 12.1 per cent; new infrastructure decreased by 18.4 per cent; new public non-housing (excluding infrastructure) decreased by 21.9 per cent and private commercial decreased by 14.4 per cent
•The only sector that increased over this period was new private industrial work, which rose by 1.8 per cent
NFB chief executive Julia Evans said: "The government has made it clear that it knows the construction industry is a major contributor to economic growth, and has brought in measures to help kick start it, but these will need time to make an impact. However, the figures today remind us that action is needed now, not in a few months. This is an industry deep in recession, with the steepest decline in orders since 2009 and 45,000 job losses in 2012 alone. This is an industry that is not predicted to recover until at least 2017.
"Therefore action is needed now. I would urge the government to bring forward public projects to provide work now. Continue the pressure on the banks to lend both to the industry and to first time buyers. Allow more smaller house builders to get access to funding so that they can reverse the 38 per cent drop in housing work. Initiatives such as NewBuy, Funding for Lending and the Green Deal all require more clarity and greater accessibility, particularly for the small and medium-sized businesses that will drive economic activity. Finally, a reduced rate of VAT for home improvements would boost the repair and maintenance sector and make energy efficient home improvements more affordable and attractive in the light of energy price rises."
(CD/GK)
The total volume of construction output in August 2012 is estimated to have been 11.6 per cent lower than in August 2011.
In the three-month period from June to August 2012 compared to the same period in 2011:
•The volume of construction output decreased by 11.9 per cent. New work decreased by 15.6 per cent and repair & maintenance decreased by 4.2 per cent
•Over the same period, the volume of new public housing work decreased by 20.7 per cent; new private housing decreased by 12.1 per cent; new infrastructure decreased by 18.4 per cent; new public non-housing (excluding infrastructure) decreased by 21.9 per cent and private commercial decreased by 14.4 per cent
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•The only sector that increased over this period was new private industrial work, which rose by 1.8 per cent
NFB chief executive Julia Evans said: "The government has made it clear that it knows the construction industry is a major contributor to economic growth, and has brought in measures to help kick start it, but these will need time to make an impact. However, the figures today remind us that action is needed now, not in a few months. This is an industry deep in recession, with the steepest decline in orders since 2009 and 45,000 job losses in 2012 alone. This is an industry that is not predicted to recover until at least 2017.
"Therefore action is needed now. I would urge the government to bring forward public projects to provide work now. Continue the pressure on the banks to lend both to the industry and to first time buyers. Allow more smaller house builders to get access to funding so that they can reverse the 38 per cent drop in housing work. Initiatives such as NewBuy, Funding for Lending and the Green Deal all require more clarity and greater accessibility, particularly for the small and medium-sized businesses that will drive economic activity. Finally, a reduced rate of VAT for home improvements would boost the repair and maintenance sector and make energy efficient home improvements more affordable and attractive in the light of energy price rises."
(CD/GK)
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