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Building projects hit by global timber and supplies shortage
The Construction Leadership Council (CLC) has warned that cement, some electrical components, timber, steel and paints are all in short supply. The Office for National Statistics has projected a rise of 7-8 per cent in material prices this year, with increases for certain materials, such as timber, expected to more than double. These increases are down to a number of factors including construction industry projects having surged since lockdown, leading to huge demand for already scarce materials.
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