§ Mr. Nicholas BrownTo ask the Chancellor of the Exchequer how many people he estimates will be made unemployed in the construction industry following his decision to reduce the annual allocation to the Housing Corporation by more than £300 million; how many planned building projects he estimates will be cancelled; and what plans he has to compensate the construction industry.
§ Mr. PortilloThe construction industry's main requirements are for continuing low interest rates and increasing economic confidence. My right hon. and learned Friend's Budget offers decisive action to reduce public sector borrowing. My right hon. and learned Friend has also announced several important new potential projects under the private finance initiative which can provide a boost for construction employment.