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Construction industry is worst hit by insolvencies in 2009

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Posted by Jonathan Peace at 13:12 on 29 Apr 2009

construction industry, insolvencies, recession

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A report from Price Waterhouse Cooper has shown the construction industry to be worst affected by the economic downturn. Bankruptcies in the UK are up 57% on 12 months ago with 829 companies heading to the courts in the first quarter of 2009.

The construction industry topped the list of affected businesses, followed by manufacturing, retail, hospitality and real estate. A spokesperson for the FSB predicted that 36,000 business faced a similar fate before the end of the year.

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Budget to include green measures

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Posted by James Mace at 11:06 on 09 Apr 2009
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Gordon Brown has hinted that this month's budget will not include a large-scale fiscal stimulus but will instead focus on a “green” route to economic recovery.

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'Surprise' house price rise reported

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Posted by James Mace at 09:29 on 02 Apr 2009

house prices

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Building society Nationwide is today reporting that the price of an average house surprisingly rose 0.9% in March compared with the previous month.

Prices went up for the first time since October 2007, reported the buidlng society, with an average home costing £150,946 compared to £147,746 in February.

The news comes just days after a reported 3% rise in the price of new homes.

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