Base Rate Reductions
The Bank of England reduce the base rate further in December 2008 by a full per cent, and again in January 2009 by another half per cent bringing the base rate down to 1.5%.
With more government bail outs imminent investors and developers and still unable to proceed with construction projects as banks are still unwilling to lend. With a relatively quite start to the year the site investigation industry remains quite.
In addition to the site investigation industry, the credit crunch is also affecting geothermal drilling as clients are cutting back on renewables in the current economic crisis.