ABSTRACT
While this book presents construction industries along a continuum of regulated and deregulated markets with a focus on the effects of deregulation, the construction industry in the United Kingdom presents a reality not of deregulation but rather of shifting regulation. State policy has shifted from the purchase of public housing units – a policy that stabilized construction demand – to a policy of encouraging home ownership through tax incentives – a policy that has exacerbated swings in demand by making demand more sensitive to interest rates. State policy has shifted from the direct employment of approximately 15 per cent of construction and related workers to the privatization of all public housing construction, maintenance, repair, and related workers. Changes in state taxation and social insurance policies triggered competitive pressures to shift employment for wages into self-employment as independent contractors.
