THE EFFECT OF BREXIT VOTE ON THE CONSTRUCTION INDUSTRY AND ECONOMY

  • The Brexit vote is starting to affect the construction industry as well as the economy

    "A poll by Reuters of almost 60 economists has predicted that Britain will decline by 0.1% for the next two quarters and enter recession this year", reports 24Dash.

    National Housing Federation analysis also showed a decline in housebuilding similar to that of the 2008 recession would over the next decade:

    • Wipe out more than a third of GDP growth (£142.5bn)
    • Result in the loss of nearly 120,000 construction jobs

    Chief executive at the National Housing Federation, David Orr, said:

    "We know that an uncertain economic environment will cause builders to put the brakes on. Our country's prosperity and thousands of citizen's livelihoods depend on a strong building sector - we cannot let a slowdown take hold.

    "Housing associations have a track record of building through tough times, having upped their output through the last recession when private developers could not. With the right flexibility from Government, and at no extra cost to the taxpayer, housing associations can keep the nation building."

    What do you think? Please tweet comments @suppsolutions.

    For more details, visit 24Dash.

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