The UK Government needs to give businesses certainty by outlining an energy investment framework as soon as possible.
That’s the view of Carolyn Fairbairn, Director-General at business group CBI, who says the government must create a pro-market, pro-enterprise partnership to unlock a “golden age of infrastructure development” across the country.
Speaking at the National Infrastructure Forum, she said: “The government knows infrastructure matters. In the last parliament, we saw decisions on Heathrow, Hinkley and HS2. Now we need to take it up a gear – we need action and not more words. Delivery and not delay.”
Focusing on energy issues, she added: “Today, technologies like solar and wind mean companies and communities are generating, storing and sharing power – seizing the opportunity of green energy.
“Looking to the future, government needs to give business certainty by saying as soon as possible what the investment framework will be beyond 2020.”
Ms Fairbairn one of the main obstacles currently facing businesses is political and regulatory risk, created by vague policy promises such as energy price caps causing uncertainty, knocking confidence and risking deterring investment at a time when companies are being asked to invest “huge sums” of money.
She added: “What we really need is business and government to have an honest conversation with consumers about why bills are rising and how to manage them in the long term.”