According to a new poll released today by the Confederation of British Industry (CBI) and infrastructure services firm AECOM, almost 66% of British businesses want the government to hurry-up the delivery of promised infrastructure projects.
Whilst more than half of respondents told the CBI they didn’t expect to “see necessary upgrades in the next five years”, almost all said the quality of infrastructure was a “key deciding factor in planning their investments”.
“The arteries of modern Britain are working overtime” said John Cridland, Director-general of CBI. “Whether it’s our creaking railways, clogged roads and crowded runways, or digital links and the energy to power them struggling to keep up” he continued, “businesses now want the government to deliver the large scale upgrades it has made ambitious strides towards”.
There are currently £441bn worth of pending infrastructure upgrades, according to the CBI. All of which are integral to the UK’s future, and include: a new runway in the south east, investment in new energy sources, and general upgrades to the rail network.
Political procrastination over infrastructure threatens economic growth and jeopardises investment” said Richard Robinson, AECOM executive. “When infrastructure decisions are deferred, businesses takes the hit”.