Thursday 1 October 2009

Industry Omens look bleak

From the Architecture Scotland news update.

Extract:

With a drop in expenditure on social housing from £524.9m to £351.9m by the Scottish Government on the cards in a draft budget for 2010-11 the public sector looks set to experience the sort of painful contraction that private sector operators have already endure.

The precipitous plunge has been blamed on expenditure being brought forward to 2009, mitigating construction pain from the financial crisis but leaving a hole in budgets going forward and with scant evidence of any upturn thus far industry omens look bleak.

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