Richard Threlfall, UK Head of Infrastructure, Building and Construction comments:
“From an infrastructure perspective today’s Budget was disappointing. £3bn infrastructure investment per annum - scrapped off other savings - will be welcome but will make little difference in solving the UK’s infrastructure challenge.
“Experts estimate that the UK needs at least £400bn investment into our ailing infrastructure over the next 10 years. What is clear is that the UK must now look to private stimulus for infrastructure investment after the Chancellor today turned his back on additional borrowing.
“Around 65% of the UK’s infrastructure is already privately financed but we won’t unlock new development spend from the private sector without action and a consistent message from the Government, to build confidence amongst developers and investors.
“However, tucked away in the Chancellor’s speech was an intriguing reference to UK Guarantee support for “the new power stations of tomorrow”. This could be a game-changer for new nuclear if the Government is really serious about debt support as well as fixing the strike price."
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