Listen
A visiting British analyst says the crisis confronting the construction sector has only just begun to bite. Mark Farmer, who wrote a report on the UK construction industry for the British government, says the massive losses that wrecked Fletcher's building arm are one sign. And another is the liquidation in Britain of the conglomerate Carillion on the back of similar type losses. He told RNZ reporter Phil Pennington top level building contractors are suffering from a failing business model.