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Osborne’s 2012 Budget must translate infrastructure pledges into action, says CBI

Business lobby group the CBI has called on chancellor George Osborne to use his 21 March Budget to implement plans to get pension funds to invest in infrastructure.

The Treasury outlined plans to encourage pension funds to invest around £20bn in infrastructure ahead of last November’s Autumn Statement.

Infrastructure UK told NCE at the time that a new financial vehicle to allow the scheme to operate was “very near to being set up”.

But the CBI today said that more must be done to persuade pension funds that infrastructure presents a sound investment.

 “The chancellor must use this Budget to score the growth and investment policy goals he put forward in his Autumn Statement,” said CBI director general John Cridland. “Delivering private sector investment in infrastructure will provide a real boost for UK growth and jobs.”

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