Government announcements of new infrastructure projects are failing to lead to new projects getting under way, undermining the prospects of a return to sustainable growth, according to the Confederation of British Industry.
The CBI says a survey of business leaders shows that investment in the UK’s infrastructure is improving, but two thirds believe Government policies will have no tangible impact, or even a negative one.
Energy has overtaken transport since 2012 as northern firms’ biggest concern. Nine out of 10 Northern firms are concerned about the cost and the security of supply of energy and four our of five not confident that energy infrastructure will improve during the next five years.
CBI director for Yorkshire & Humber Andrew Palmer said: “Government has talked the talk on infrastructure for the last two years with too few signs of action. The faltering speed of delivery on infrastructure creates a worrying sense that politicians lack the political will to tackle some of the major issues head on.”