Ahead of the Wednesday June 26th spending round, the Confederation of British Industry reiterated its call for the Chancellor to take urgent steps to bridge the infrastructure investment gap and make the big decisions to protect growth and get a clutch of major projects on the move. Failure to act could place the fledgling recovery at risk.
The UK’s leading business group is calling for short-term action to improve roads and boost house-building, and for long-term infrastructure investment to be kick-started by selecting flagship projects and extending the UK government guarantee scheme.
The CBI believes other areas that can help boost growth should also be prioritised, such as increasing funding levels for the Technology Strategy Board.
John Cridland, CBI Director-General, said: “The Chancellor must prioritise areas that could propel a fledgling recovery and infrastructure investment should be in pole position.
“We need quick and decisive action on the big decisions that will move projects from blueprints to building.”
“The Government must bridge the investment gap making sure infrastructure spending is a priority in the years ahead.
“There also needs to be a fresh look at the impact and value of ring-fencing. It cannot be an excuse for poor financial discipline.”
In its submission, the CBI called for:
On other growth boosting measures:
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