Prime minister David Cameron has confirmed that the government is preparing to relax regulations on infrastructure investment to make projects more attractive to the private sector.
‘Re-writing planning rules’, Cameron says
Cameron told the CBI annual conference this week that chancellor George Osborne will use next week’s Autumn Statement to try and tempt in private cash to kick start key infrastructure projects.
“Next week the chancellor will be setting out the next stage of our plan to transform the nation’s infrastructure, not with more government borrowing, but by using all the other tools at the government’s disposal to take a more strategic and proactive approach to infrastructure,” he said.
“That’s something this country has long lacked,” he said. “In short, we are putting in the money, leveraging the power of the private sector, and reshaping the rules to break decades of failure and build world-class infrastructure to support a world-beating economy.”
Cameron said the coalition government had protected capital spending and committed to projects like Crossrail.
But he admitted that some of the cash required will have to come from the private sector. “We’re rewriting planning rules so the construction industry can grow,” he said.