The government have introduced certain schemes to support some markets through this recession, noticeably the banks. They have also spent billions on supporting the car manufacturing industry due to the labour market that it supports, from direct labour through to suppliers.
So why haven’t the government supported the building industry? This one industry sector supports more labour markets than any other. Do you know it takes over 20 different trades to build a house, from the architect who first designs it through to the decorator at the end and the other industries it supports are huge. The property market has been left out on its own, lenders are no longer supportive of the house builder and many refuse to lend on certain types of new build houses.
The Government have introduced some schemes to help buyers onto the property ladder through shared equity schemes, however these have not gone far enough and have largely failed to do the job they where supposed to do and we now see many tradesmen and women laid off due to the lack of activity.
The current situation was started by the property and mortgage market and I firmly believe that this is where we need to concentrate our efforts to end this terrible recession.
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