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Our infrastructure is inferior to EU rivals say UK businesses

The Government must act now to attract vital new investment into the UK’s ageing infrastructure. Swift investment across Britain’s road and rail networks, digital, waste and energy would ensure we remain internationally competitive and kick-start UK growth, the CBI said today.

UK businesses are particularly concerned about our energy security and transport systems.

A major new survey of 477 businesses, conducted in partnership with KPMG, shows that 58% rate the UK’s infrastructure worse than other EU countries, when judged on quality, value for money and reliability. And worryingly, just 26% of firms saw the UK as a favourable destination for infrastructure investment.

Last year’s World Economic Forum Global Competitiveness Report placed the UK 33rd for quality of infrastructure, alongside Slovenia and behind Tunisia and Cyprus. But competitors France and Germany both made the top ten.

The CBI is calling for swift action to help secure critical business investment and urged the Government to raise its capital investment to pre-recession levels as soon as possible.

John Cridland, CBI Director-General, said: “Half of companies think the UK’s transport network has got worse in the last five years, while less than a fifth (18%) say it has got better. Nine in ten express concern about the security of energy supply over the next ten years.

The link to sustained economic recovery is clear, as the survey shows, most companies rank the quality and reliability of energy (81%) and transport (81%) infrastructure as significant or very significant to future investment decisions.

The Government’s own National Infrastructure Plan acknowledges that £200bn of infrastructure investment is needed in the next five years alone, with 70% expected to come from the private sector.”

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Posted in Infrastructure, Investment

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