Government policy is too light on developing roads and aviation infrastructure and blocks major schemes, according to the findings of a survey released today.
Business lobby group the CBI, in partnership with KPMG, surveyed 447 businesses about investment in infrastructure. Some 58% of businesses rate the UK’s infrastructure as worse than other EU countries when judged on quality, value for money and reliability. Worryingly, only 26% of firms saw the UK as a favourable destination for infrastructure investment.
However, the state of roads in the UK and aviation capacity — particularly the lack of connections to emerging economies — were of greatest concern to respondents.
CBI director general John Cridland said that while the “penny has dropped” in the last few years with regard to the economic benefits of infrastructure investment, there was still a long way to go. He added that it was important to get the right kind of projects pushed ahead.
Water and waste were the “Cinderellas” of infrastructure and needed to also be considered but he said that those decisions on investing in infrastructure would be difficult to make. He added that the CBI had taken criticism of PFIs on the chin but that without private investment, required infrastructure could not be delivered.