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UK construction sector still under pressure

A report today by the Chartered Institute of Purchasing and Supply's has confirmed that the UK construction sector is still under immense pressure and the workforce has reduced yet again for the 14th month in a row. While there is no doubt that business is still tough, the Chartered Institute of Purchasing and Supply's managers index showed that business levels are falling at their slowest rate for the last 16 months and are actually close to move into positive growth. However, whether this potential move into positive ground will come too late for many in the UK remains to be seen as finances are still very tight and banking liquidity is non-existent for many companies.

The UK government has announced a number of taxpayer funded programs to try and refloat projects which had previously been mothballed because of the economy, and try to kickstart the industry from the bottom upwards. However, there is some concern that the system and criteria for financial assistance will effectively ensure that the stronger companies receive assistance and the weaker companies continue to struggle. Even though it is a very difficult decision to make, do you fund the smaller company for the future or see the stronger company receive taxpayer funding, many believe the UK government is focusing far too heavily upon the financial sector.

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