CBI calls for £250 billion government spend

CBI calls for £250 billion government spend

Business leaders tell ministers that the UK's failing transport system needs a £250 billion injection.

The Confederation of British Industries has told the government that UK business is being failed by its road and railway network, with delays costing the national economy around £20bn a year.

The CBI warned that patience is running out as government measures progress painfully slowly.

It called for a mixture of public and private investment to boost the planned spending of £180bn in the government's 10-year transport plan by £70bn.

Priorities for business included the M1, M6 and M25 motorways, according to the group's transport spending submission published today.

On the railways the government should focus on greater reliability and capacity for both passenger and freight routes, it said.

CBI director general Digby Jones said: "We have a first-rate economy and it deserves a first-rate transport system, not the substandard infrastructure that is currently letting down the whole country.

"The original 10-year plan was full of promise but four years and £50bn later there remain profound deficiencies in the UK transport system.

"The catalogue of transport nightmares gets ever longer.

"We are not calling on the government to break the bank," said Jones.

"The scale of transport spending business is asking for would be a relatively small price to pay to deliver to the fourth largest economy in the world the transport system it deserves."