By Claire West
The CBI has said today that the Government is in danger of repeating past mistakes with the Comprehensive Spending Review (CSR) if it fails to give the necessary priority to investment in infrastructure.
Commenting, Institution of Civil Engineers (ICE) Director General, Tom Foulkes, said:
“The CBI is right to highlight the importance of continued investment in UK infrastructure. Robust and effective infrastructure is vital for the UK’s future development and economic prosperity and will aid the shift to a low carbon society - yet an assessment of our networks showed that our overall infrastructure requires ‘significant attention’ with energy and local transport infrastructure graded as ‘at risk’.
“Government body Infrastructure UK has estimated that £40-50bn will need to be channeled into our infrastructure per annum and in his speech (today) Nick Clegg strongly hinted that the Government remains committed to its plans for infrastructure investment, despite tough plans for public spending cuts. Therefore we are hopeful that Government recognises the scale of the challenge and the financial commitment required. This must now be reflected in the comprehensive spending review and the plan for a Green Investment Bank.”