Thursday, February 21, 2013

Housing is key to the economy

Architecture is one of the many sectors of the construction industry hit hard when the country went into recession back in 2008. House budget severely slashed and some companies are forced to cut jobs and close later due to lack of work and funding is available. The effects of the recession are still being felt throughout the country, with the number of reports expected to show very little hope in the near future. Figures released this week show that in the second quarter of this year, output in the construction sector fell 5.2% at the beginning of the industry to feel the effects of the economic slowdown and a sharp drop in public spending. However, despite reports of a bit in terms of growth, most of the country to start moving forward, the construction industry needs to be nurtured because this sector is the one with the most impact in the wider economy. At the beginning of the month, 23 of the country's name contractors began the campaign, Creating the Future UK, urged the government to speed up decision-making and to find new ways of financing construction products to stimulate broader growth. The campaign began with a letter highlighting the ability of the industry to create and develop growth areas, such as for the Olympic Games, on time and on budget while providing people with valuable skills. For every £ 1 spent on construction, £ 2.84 is generated in the local economy. Overall, the construction industry is worth more than £ 120bn in the UK each year in one of 12 people - 11% of the total UK workforce - work in construction. Paul Moore, MD, of the Darlington-based construction and development specialist Southdale, is believed to put more focus on meeting the housing needs can be a significant reduction in the life of unemployment, give the economy a kick start needed. Support for the housing sector is not at the right level and he believes that this is partly because of our dedicated housing minister. Keep in planning law and the availability of land to allow residential address that will be developed at the level it should be. Although not remove unemployment life, it will help to reduce considerably. Chief executive Catriona Lingwood develop reliability North East. For more information about creating excellence in the North East, please call 0191 374 0233 or email catriona@cene.org.uk

No comments:

Post a Comment