The Royal Institution of Chartered Surveyors (RICS) has warned the government that it cannot simply rely on Chinese investment to fund UK infrastructure projects.
“The Chancellor is short-sighted if he believes Chinese cash alone will address our investment needs”, said Jeremy Blackburn, RIC’s Head of Policy. He added that 43% of surveyors are currently turning down approximately five contracts per year, because of a dearth of skilled UK workers. He also lamented the fact that too many smaller projects are being overlooked by investors.
Energy infrastructure and broadband programs need just as much investment as high-profile plans like Hinkley Point nuclear reactor, continued Blackburn – who also called for a central register of projects for private investors.
Other suggestions made by Blackburn, the RIC’s Head of Policy, included incentives – such as tax relief, and reduced national insurance contributions – for employers who employ and train construction workers.