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CBI COMMENTS ON PRIME MINISTERS SPEECH ON INFRASTRUCTURE MAINTENANCE AND INVESTMENT

CBI COMMENTS ON PRIME MINISTER’S SPEECH ON INFRASTRUCTURE MAINTENANCE AND INVESTMENT

The CBI today (Monday) commented ahead of a speech by Rt Hon David Cameron, the Prime Minister, in which he will announce the Government’s new plans to attract private sector involvement in maintaining our roads and investing in the UK’s infrastructure.

John Cridland, CBI Director-General, said:

“Getting growth going must be the Chancellor’s number one priority in this year’s Budget. As we’ve said, one of the best ways we can create activity and new jobs is by attracting investment into our ageing infrastructure.

“Congestion on our roads costs the UK economy up to &pound8 billion a year1, so the Prime Minister’s ambition to get much-needed private investment into the strategic network could not have come at a better time. Every &pound1 spent on infrastructure adds &pound3 to the economy as a whole.

“In the short-term, we need contracts to be agreed with companies to maintain our roads and repair the potholes. In the longer-term, investor confidence will be critical to injecting new money into removing bottlenecks, reducing commuting times and helping firms to transport their goods.”

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