Projects stalled by material shortages and rising prices
The construction sector on the Isle of Man is facing a perfect storm caused by shortages of materials and soaring prices.
The issues are linked to the Coronavirus pandemic and – to a lesser extent – fall-out from Brexit.
Prices of many materials have risen between 20 and 40 per cent in recent weeks making it increasingly difficult for companies to submit tenders for both private and public projects.
Paul Corteen is commercial director for Island Drainage, Tooms and Cains:
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