News
KPMG say stimulus package yet to reach builders
16/11/2009
A survey of construction companies has shown public spending measures are failing to make an impact on the sector.
In a report from KPMG, only 15 per cent of leading international construction groups said they expected state intervention into the industry would provide significantly greater opportunities over the next year.
“There is a sense that, although governments are pumping billions into the economy, the construction companies are not seeing any of it yet,” said Fiona McDermott, UK head of building and construction at KPMG, to the FT.
In the UK, most of the £1bn the government has so far drawn from the £3bn it has earmarked for the industry has gone to housebuilders, with only £400m being spent on infrastructure.
In spite of the scepticism concerning the impact of government spending, construction companies were positive about the future of the industry, with about two-thirds expecting to see profits increasing by the middle of next year.
From the FT - see more at http://www.ft.com/cms/s/0/3742f96a-d242-11de-a0f0-00144feabdc0.html
