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Government investment is vital for growth

NEWS

THIS month's Government Spending review will be vital to keep construction growing and out of recession.

Latest predictions from the Construction Products Association show private investment stalling and overall growth rates dropping in the next three years.

Chief executive Michael Ankers said: 'Our forecasts highlight the central role that Government investment in the built environment is expected to play in sustaining industry growth at a time when private sector activity pauses for breath.

'It is important that the Government uses the spending review to ensure that promised long-term investment is delivered as planned.'

The figures show overall growth rates falling to 3 per cent this year from 4.4 in 2003 then down to 1 per cent and 1.5 per cent for the following two years.

Mr Ankers said 1 per cent had been knocked off this year's total because Network Rail is bringing maintenance work in-house.