Continuing contraction in the construction sector very concerning
- Published on Friday, 09 November 2012 13:02
- Posted by Vicki Mitchem
Rachel Reeves MP, Labour's Shadow Chief Secretary to the Treasury, responding to today's construction output figures, said:
"The continuing contraction in the construction sector is very concerning. Over the last year we've seen an 11.3 per cent fall in construction output with an 18.7 per cent drop in new public housing work.
"It's time the Government took urgent action to kick-start our economy and bring forward infrastructure investment. As part of our growth plan Labour has said that the funds raised from the 4G mobile phone spectrum auction should be used to build 100,000 affordable homes and create hundreds of thousands of jobs.
"This proposal has been backed by the Confederation of British Industry and it's time this Conservative-led government stopped being so complacent about the state of the economy and backed it too."