Infrastructure projects essential for recovery

The CBI is an organisation which represents the interest of UK businesses

The Confederation of British Industry (CBI) has emphasised the need for the government to move quickly with big infrastructural projects to help boost economic recovery.

Director general John Cridland suggested that currently there were widespread fears of a lacking of “political will” to deliver the projects.

The calls came following a survey carried out by the CBI which cited improved regional transport links as crucial to small businesses, with 74% suggesting that they believed there had been a deterioration of road networks.

Businesses remain worried about energy infrastructure, as 77% of respondents suggested they were not confident of improvements in the next five years.

The EEF manufacturers’ organisation also called for the government to push ahead with transport infrastructure priorities, to help the country make faster progress towards a rebalanced economy whilst achieving a sustainable recovery.

In other economic news, the Federation of Small Businesses (FSB) said its members were creating jobs again, with confidence having risen twice as quickly in the third quarter as in the previous quarter.