United Kingdom

Details

  • Industry: Infrastructure, Building and Construction
  • Type: Press release
  • Date: 29/04/2013

Infrastructure Investment will lead to ‘virtuous circle of affordability and investment’, says KPMG 

 

Richard Threlfall, KPMG’s Head of Infrastructure, Building and Construction comments on the Public Accounts Committee report Planning for Economic Infrastructure, published today:

 

“Investment into infrastructure is crucial for stimulating economic growth.  It will create jobs, raise incomes and lead to a virtuous circle of affordability and investment. If we deny that we could go on a downward spiral towards being a second tier economy.

 

“Experts estimate that the UK needs at least £400bn investment into our ailing infrastructure over the next 10 years. Around 65% of the UK’s infrastructure is already privately financed and with Government spending under pressure, the UK has no choice other than to look to the private sector for infrastructure investment. What we need from Government is a clear vision of the infrastructure development needs of the country and consistency between Government message and action in order to build confidence amongst developers and investors.

 

“If anything the Government’s infrastructure plans need speeding up. The Government needs to make more effective use of the guarantee scheme it introduced last year. It should also consider re-establishing tax relief on infrastructure investments in line with other G20 countries, a move that would have real and lasting impact on jobs and capital investment in the UK.”

 

-ends-

 

 

Media Contact:


Katrin Boettger, Senior PR Manager 

Tel: +44 207 896 4232 / 0782 4475168

Email: Katrin.boettger@kpmg.co.uk

 

About KPMG:

 

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff.  The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  KPMG International provides no client services.

 

 

Share this

Share this