The UK Government must invest more in Britain’s infrastructure if it is to safeguard businesses from losing out to global competitors. New research from the Confederation of British Industry has set alarm bells ringing over what needs to be done to help the UK return from tough economic times.
The ‘Making the right connections: CBI/KPMG infrastructure survey 2011’, has led the CBI to call for swift action and is urging the Government to raise capital investment to pre-recession levels. According to the poll, just 26% of firms saw the UK as favourable for infrastructure investment.
John Cridland, CBI Director-General, said: “This survey paints a disturbing picture. Firms across the country say that the infrastructure they depend on every working day is just not good enough and is stifling growth.
“So, if we are serious about boosting exports – especially in emerging markets – and achieving sustainable growth, the Government must put infrastructure investment firmly at the top of its agenda.”
The survey of 447 businesses, of all sizes and from a wide range of sectors suggested areas such as energy security critically affected decisions by companies where to invest. Of those surveyed, 89% were worried about the security of energy supply over the next ten years and a staggering 95% were concerned about the rising cost of energy over the next five years.
Other nuclear stories: