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15/07/2002
NI tender prices rise in uncertain market
Building tender prices in Northern Ireland are forecast to rise by 1.5% by the second quarter of 2003, according to the latest forecast by international consultancy EC Harris.
The forecast – which is published in EC Harris' Economics Survey – outlines an increase of 1.5% by the middle of 2003, with a further 1.5% rise the following year, indicating that there has been no real economic growth in the province.
Commenting on the figures, Jim McClean, EC Harris Belfast, said: "Following the visit of the Prime Minister and Gordon Brown at the start of May, we may see some increase in public expenditure. The chancellor announced a cash injection of £200million and the news that prison and army bases are to be sold off and the money to be used for public services can only be welcomed.
"However, the money is far from sure, and comes with a lot of conditions. Health and education have been targeted as priority areas, so the recent announcement that Queen's University has postponed the proposed £60 million Lanyon II scheme was obviously disappointing.
He concluded: "On the whole, the outlook for the construction industry in Northern Ireland remains poor, and tender prices are likely to remain depressed."
(CL)
The forecast – which is published in EC Harris' Economics Survey – outlines an increase of 1.5% by the middle of 2003, with a further 1.5% rise the following year, indicating that there has been no real economic growth in the province.
Commenting on the figures, Jim McClean, EC Harris Belfast, said: "Following the visit of the Prime Minister and Gordon Brown at the start of May, we may see some increase in public expenditure. The chancellor announced a cash injection of £200million and the news that prison and army bases are to be sold off and the money to be used for public services can only be welcomed.
"However, the money is far from sure, and comes with a lot of conditions. Health and education have been targeted as priority areas, so the recent announcement that Queen's University has postponed the proposed £60 million Lanyon II scheme was obviously disappointing.
He concluded: "On the whole, the outlook for the construction industry in Northern Ireland remains poor, and tender prices are likely to remain depressed."
(CL)
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