KPMG calls for government to help construction
Published: 06 July, 2012
LONDON: Accountants at KPMG are urging the Government to help construction as the industry enters ‘a new phase of the downturn’.
The call comes in the wake of depressing figures from construction buyers which saw the sharpest drop in construction output for two-and-a-half years.
Richard Threlfall, KPMG's head of infrastructure, building and construction, said: "The disappointing construction figures come as no surprise. In recent months we have seen failures of some of the biggest construction players such as the 150 year old firm Killby & Gayford.
“More recently, we have seen the equally well-respected construction firm Doyle go into administration.
"This is the start of a new phase in the downturn for the construction industry in the UK, driven by a waning pipeline, evaporating margins and lengthening payment periods.
"The pressure on the industry is now becoming acute. The Government needs to act now to support UK's struggling construction industry."