With the construction industry being badly hit by the recession and public sector spending having dried up due to the government?s spending cuts, the private sector is the key to the construction industry?s recovery.
Business leaders are now urging the government to make the UK a more attractive place to invest and encourage more private investment, to kick-start the UK economy.
A new report by the CBI (The Confederation of British Industry) and accountants KPMG have urged the government to attract billions in new investment to boost the economy and create new construction jobs.
The report wants the government to attract investment to create a return to pre-recession levels as soon as possible.
The government?s own National Infrastructure Plan has recognised this, and have said that ?200 billion of investment is needed in the next 5 years, with the majority of this (70%) coming from the private sector.
But the CBI wants to see immediate changes, with Director-General John Cridland saying in a statement:
?Firms across the country say that the infrastructure they depend on every working day is just not good enough and is stifling growth. We need ministerial decisions that get spades in the ground and people working now.?
?There are large amounts of business capital waiting to be unlocked and Capital investment must return to pre-recession levels at the earliest opportunity.?
Private investment is the way to revitalise the construction industry and if this works, it could see the construction industry bounce back sooner than expected.
What do you think ? does the CBI have a point? Let us know what you think and share your thoughts by commenting below:
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