The majority of businesses (62 per cent) are concerned with the pace of progress on the delivery of infrastructure projects, and over half (53 per cent) believe they won’t see necessary upgrades in the next five years, according to the 2015 CBI/AECOM Infrastructure Survey.
With 94 per cent of the 722 firms surveyed saying the quality of infrastructure is a key deciding factor in planning their investments, CBI/AECOM believe there is clear consensus on the need to speed up the delivery of projects crucial to the British economy in this Parliament and to reverse decades of underinvestment and policy change.
Momentum has been building in the last five years. Business has been encouraged by the Government’s moves, such as the creation of the National Infrastructure Commission and the use of Government guarantees to boost investment. Indeed, now, twice as many firms (43 per cent of all businesses and 49 per cent of infrastructure providers) see UK infrastructure improving instead of deteriorating (23 per cent). Devolution has also been greeted with optimism, with 61 per cent of firms believing it will improve delivery of local infrastructure, rising to 73 per cent among English companies.
CBI/AECOM say US$627 billion-worth of infrastructure upgrades, fundamental to the UK’s future, need to be delivered. These include a new runway in the South East (important to 91 per cent of firms), upgrades to the rail network (45 per cent of firms want spending increased), and investment in a diverse, secure energy mix (vital to 97 per cent of firms).
For these projects to be delivered this Parliament, Britain’s business group CBI and the global infrastructure services firm AECOM want to see the Government tackle the thorny issues and create a business environment primed to support delivery from conception to completion.
With 94 per cent of the 722 firms surveyed saying the quality of infrastructure is a key deciding factor in planning their investments, CBI/AECOM believe there is clear consensus on the need to speed up the delivery of projects crucial to the British economy in this Parliament and to reverse decades of underinvestment and policy change.
Momentum has been building in the last five years. Business has been encouraged by the Government’s moves, such as the creation of the National Infrastructure Commission and the use of Government guarantees to boost investment. Indeed, now, twice as many firms (43 per cent of all businesses and 49 per cent of infrastructure providers) see UK infrastructure improving instead of deteriorating (23 per cent). Devolution has also been greeted with optimism, with 61 per cent of firms believing it will improve delivery of local infrastructure, rising to 73 per cent among English companies.
CBI/AECOM say US$627 billion-worth of infrastructure upgrades, fundamental to the UK’s future, need to be delivered. These include a new runway in the South East (important to 91 per cent of firms), upgrades to the rail network (45 per cent of firms want spending increased), and investment in a diverse, secure energy mix (vital to 97 per cent of firms).
For these projects to be delivered this Parliament, Britain’s business group CBI and the global infrastructure services firm AECOM want to see the Government tackle the thorny issues and create a business environment primed to support delivery from conception to completion.
