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.”
Katrin Boettger, Senior PR Manager
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