The economic situation in 2009 is considerably different to that just two years earlier and the construction industry has been especially badly affected with the UK mired deep in recession. The crisis in financial markets during Autumn 2008 led to a collapse in credit that is vital to private sector construction, and the government's attempts to revive the financial sector, in combination with various fiscal stimuli, will leave public borrowing at unprecedented levels. Any upturn in construction will be critically dependent upon an increase in credit availability in the private sector and government spending in accordance with its announced plans on the public side.
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