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Spring Budget 2017: Pre-Budget comment on infrastructure

Spring Budget 2017: Pre-Budget comment on infrastructure

Monday 6th March 2017

Mark Rathbone, partner and member of the supply chain and logistics sector at Brabners, said: “The Spring Budget represents a real opportunity for the Chancellor to flesh out his plan for transport infrastructure investment. The government has stated that 1.2% of GDP will be set aside annually. What we need now is a clear outline of how this money will be spent nationally and where.

“Businesses across the UK will be hoping for greater transparency on the distribution of funding across the country and, in particular, how much will be spent outside the South East. In the Autumn Statement, the chancellor did acknowledge the need to rebalance spending, but we’re still waiting for the specifics of how this commitment will close the gap between North and South. 

“The media focus has consistently been on passenger transport with projects like high-speed rail. What is at least as important is infrastructure focused on the efficient movement of freight and the relationship of this to passenger movements, as well as the interconnectivity of different modes of transport. It seems that we continue to see grand projects such as HS1, 2 and 3 and the Heathrow expansion without any national strategy as to how our infrastructure, planned and existing, can better connect to serve the whole nation most effectively and sustainably.

“The Budget should outline what the government wants to achieve through infrastructure, how different transport elements will be connected and what the benefits will be. Ultimately, businesses across the UK want a clearer picture of how the national transport infrastructure will look five and ten years down the line and how the government’s overall investment can impact upon that.”

Ends

Issued on behalf of Brabners LLP by Citypress.

Media information:
Sophie Millward / Bryn Madden
Citypress
T. 0161 235 0300 / E. sophie.millward@citypress.co.uk / E. bryn.madden@citypress.co.uk