Nov 10
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Construction gives UK economic recovery an unstable foundation
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An interesting insight into the construction sector
Published by Guardian
Phillip Inman and Alex Hawkes, Sunday 31 October 2010
Phillip Inman and Alex Hawkes, Sunday 31 October 2010
George Osborne says the economy is growing strongly, but how much of that is down to a construction rally that is already petering out?
The Shard of Glass is just the kind of totemic confidence booster the country needs. Sandwiched between London Bridge station and Guy’s hospital on the south bank of the Thames, it will be the tallest building in Europe when the first tenants cross the threshold in 2012. It will also charge the highest commercial rents outside New York and Tokyo.
The Renzo Piano-designed Shard could become a symbol of London’s renewed vigour following the worst banking crash since 1929. It could also become the opposite, according to analysts who fear that Britain will fall back on its old allies of construction and financial services to boost recovery.
