Titan Construction Insurance wonders how the sector will cope once the Olympics complex is complete and few major infrastructure projects are being commissioned.

The construction sector, especially in the middle part of the market, is facing an unprecedented downturn believes Titan and that it’s only the building of the Olympics complex and a few other major projects that have stopped an absolute disaster.

But with the Olympics work now drying up and other major projects stalled because of a lack of cash, and with public sector work being cancelled which mean less schools and hospitals being built, it needs some innovative thinking by the Government to keep the sector from collapsing.

Chief Executive Officer of Titan Construction Insurance, Basil Tsapralis, said:
“What we need from the Government is a lead on a number of middle sized and major projects in order to give the construction sector a future until the economy begins to recover. And that means taking the initiative on projects that can be reinstated after shelving due to the economic downturn.

“We may talk about the new high speed rail link, or indeed, a new airport for London in the Thames Estuary, but these projects, given the planning problems, could still be a decade away. We need projects that are ready to go now, have planning permission and will provide gainful employment for thousands of skilled construction workers. The simple truth is, if we lose these companies and skills now, once the recovery starts in earnest, there will be no home grown talent to win the business.”

Titan Construction Insurance is one of the biggest brokers in the sector.



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