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CONSTRUCTION FIRMS HOPE FOR REVIVAL UNDER LABOUR

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Construction companies are looking to the government for a revived public building programme, but with its pledge t...
Construction companies are looking to the government for a revived public building programme, but with its pledge to stick to Conservative spending limits, there is unlikely to be funding available, reported Sunday Business (p13).

However, Labour is committed to releasing capital receipts to local authorities for housing, and construction minister Nick Raynsford is likely to be ironing out the details of the legislation for this with chancellor Gordon Brown and housing minister Hilary Armstrong.

Chief executive of house building firm Westbury, Martin Donohue, said the industry did not know how much would be released and in what form, but the indications were that it would be phased in, which would have little impact in the short term.

Sunday Business said Labour's hopes for PFI are wide-ranging, and John Prescott's super-ministry is drawing up plans for 100,000 new homes a year using private sector funds.
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