Builders at the luxury Carbis Bay Hotel in Cornwall are close to completing three single-storey wooden structures which will provide nine meeting rooms for the G7 Summit.
Building and DIY projects are being put on hold because of a supply shortage of cement, timber, steel and paint while homeowners face a major rise in the cost of renovation projects due to skyrocketing demand.
The Office for National Statistics has projected an increase of up to eight per cent in material prices, as shortages of vital construction materials post-lockdown mean that the industry its biggest price surge in two decades.
For instance, the price of timber has risen by more than 400 per cent over the last year, with copper nearly doubling in price during the same period.
Shipping costs have also increased sharply due to a shortage of empty containers from Covid-related issues and the recovery in global demand post-pandemic.
A luxury cruise ship which usually ferries tourists along the Baltic coast is set to house more than 1,000 police officers protecting the world leaders at next month s G7 summit.
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