International rescue
Article Abstract:
UK cuts in public spending and the European Exchange-Rate Mechanism-tied high interest rates has resulted in an anticonstruction industry policy. Experts believe that a mixture of Japan and US measures could save the industry. Japan has launched a public spending programme worth 43 billion pounds sterling. The construction industry will receive 2.3% (9 billion pounds sterling.) Japan believes in investing in construction in times of economic recession to boost the economy. US Pres, George Bush has reduced interest rates which has stimulated the housing market. A 26% rise in housing is expected for FY 1992.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1992
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Autumn gold
Article Abstract:
The UK Chancellor Norman Lamont's Autumn statement will benefit the construction industry. Interest rates have been reduced by 1% to 7%; local authorities are allowed to spend money made from sale of council houses and other assets until the end of 1993; the government will allow 700 million pounds sterling to housing associations to buy repossessed homes; the Jubilee line extension will be allowed depending on 400 million pounds sterling private sector funding; the road budget will remain frozen at 6.3 billion pounds sterling until 1993-96 and private public sector joint ventures have been encouraged.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1992
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Autumn chill
Article Abstract:
The UK Chancellor's Autumn statement waived regulations governing how much local authorities can keep from the sale of council houses, land and other assets from Oct 1992 until Dec 31 1993. Previous to this authorities could only use 25% of capital receipts from council house sales and 50% of other assets. The government has predicted that this will raise 1.75 billion pounds sterling which will be spent on housebuilding, repair and roads. Critics believe that authorities will put money into banks and that the rush of sale of land will reduce property prices further.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1992
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Comment about this article or add new information about this topic:
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