Newspaper article The Journal (Newcastle, England)

'Impact' Fears over Budget

Newspaper article The Journal (Newcastle, England)

'Impact' Fears over Budget

Article excerpt

THE construction industry saw its fourth successive month of activity growth in June but firms fear the impact of a savage emergency Budget, according to a survey.

The Chartered Institute of Purchasing and Supply's (CIPS) index for the sector registered 58.4 during June - the fourth month in a row about the 50 mark which indicates industry growth.

But CIPS added that confidence over future workloads had plunged at a record pace after Chancellor George Osborne's clampdown on spending and his tax increases.

CIPS chief executive David Noble said: "Question marks loom over the sustainability of this recovery in the longer-term.

"The sector is also bracing itself for another spell of troubled times following the public spending cuts and forthcoming VAT rises announced by the Government last month."

He warned that recovery in the second half of the year was likely to remain "fragile" with the industry still a long way off pre-recession levels. …

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