11
However, over this period, the Tender Price Index for public
sector building projects prepared by the Architectural Office
and that for public housing projects prepared by the Housing
Department showed much sharper increases, at
much sharper increases, at 17.0% and 11.7% (15) respectively
This was а reversal of the situation in
the second quarter of 1985, when the Labour and Material Cost
Index increased whereas the two Tender Price Indices either
showed little change or declined.
/Land
(15) The discrepancy in the rates of increase between the Labour and Material Cost Index and the two Tender Price Indices may be due to higher profit margins for the building contractors. Variations in the type and quality of buildings covered by the Tender Price Indices may be another factor.
51