Monday 3rd October 2011 – FOR IMMEDIATE RELEASE
Small building companies in Wales suffered another decline in conditions during the third quarter of 2011 according to the latest State of Trade Survey from the Federation of Master Builders (FMB), the largest trade association in the UK construction industry. Conditions for small building firms in Wales have now been deteriorating for three and a half years.
The quarter three 2011 results for the FMB’s State of Trade Survey, the only survey of small and medium sized building companies, shows that the Welsh SME construction sector saw conditions deteriorate more quickly than in the previous quarter. Although the conditions were better than those experienced in England, Scotland and Northern Ireland, they remained negative due to the number of positive results falling form and already low 28% to just 22%.
Richard Jenkins, Director of FMB Wales, said:
“The decline in conditions seems to be a worrying, continuing trend but one which can not be allowed to go on. We were extremely pleased when the Welsh Government announced that it would put construction at the heart of the economic recovery, something the FMB has been calling for.”
Jenkins continued:
“Investment in construction offers good value for money, but more needs to be done to increase the value of construction spend. The Welsh Government must make stronger representations to Westminster for a reduction in the rate of VAT levied on repair and maintenance work. As this will provide a much needed boost to the local economy.”
