Last reviewed 24 September 2013
A survey of 526 business leaders undertaken by the Confederation of British Industry (CBI) and KPMG shows that 95% of firms are concerned about the cost of energy and 90% are concerned about security of supply, meaning that worries about energy have overtaken worries about transport for most businesses.
Although the survey report shows an improving UK infrastructure investment environment, it seems that 65% of the respondents do not think that current Government policies will have a tangible impact on UK infrastructure investment; some even believe the impact may be a negative one. Only 35% think that they will make a difference to delivery on the ground. In fact, 77% are not confident that there will be improvements in energy infrastructure over the next 5 years.
John Cridland, CBI Director-General, commented: “Quality infrastructure is vital for boosting exports, unlocking business investment across the UK and supporting our leading firms … but Government has talked the talk on infrastructure for the last two years with too few signs of action.”
He also pointed out that the “faltering speed of delivery on infrastructure” could undermine efforts to return to sustainable growth.
Therefore, amongst other immediate action, the CBI wants the Government to move the Energy Bill into legislation and bring forward secondary legislation to provide businesses with the certainty they need to invest in future energy supply. Businesses fear that too many critical investment decisions are being pushed back to beyond the next election.