The survey shows that 58% rate the UK’s infrastructure as worse than other EU countries while just 26% of firms saw the UK as a favourable destination for infrastructure investment.
It highlighted that last year’s World Economic Forum Global Competitiveness Report placed the UK 33rd for quality of infrastructure, alongside Slovenia and behind Tunisia and Cyprus. In contrast France and Germany both made the top ten.
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In response the CBI called on the Government to raise its capital investment to pre-recession levels as soon as possible.
“This survey paints a disturbing picture. Firms across the country say that the infrastructure they depend on every working day is just not good enough and is stifling growth,” John Cridland, CBI Director-General said.
He added that capital investment must return to pre-recession levels “at the earliest opportunity”.
The CBI pointed to the introduction of toll roads as a means of unlocking business capital which could achieve a step change in transport.
The report, “Making the right connections: CBI/KPMG infrastructure survey 2011”, found that half of companies think the UK’s transport network has got worse in the last five years, while less than a fifth (18%) say it has got better. Nine in ten express concern about the security of energy supply over the next ten years.
And it was clear just how vital the quality of infrastructure is deemed with most companies ranking the quality and reliability of energy (81%) and transport (81%) infrastructure as significant or very significant to future investment decisions.
According to the survey, what businesses want most from the Government is a clear overall strategy. Next on their list is action to tackle delays and costs in the planning system with almost all (98%) seeing the current planning system as a barrier to the development of new infrastructure.
The CBI also announced that it has formed an Infrastructure Board which will help shape a future vision for the UK’s infrastructure and policy decisions. The board will be chaired by Mark Elborne, President & Chief Executive of GE UK and Ireland.
