Britain ‘needs building boost’

BUSINESS has called on George Osborne to give infrastructure and innovation a boost, writes Ben Griffiths.

With just over two weeks until the Chancellor delivers his last Autumn Statement before next year’s General Election, companies have warned the economic recovery is fading. Continued problems in the eurozone – Britain’s biggest trading partner – are the main cause for concern.

Employers group the CBI has already warned economic headwinds are growing, with Europe the biggest risk to the recovery.

In its submission ahead of the Autumn Statement, manufacturers’ organisation the EEF said a third of respondents to a recent survey believe Britain’s road network is ‘poor’ or ‘very poor’ while two thirds reckon investment in the strategic road network should be government’s main priority.

It is calling for the Govern- ment to press ahead with projects including upgrading the A303, A14, A590 and A1 roads and set out a timetable for tackling the rapidly escalating £12bn road maintenance backlog.

The British Chambers of Commerce has previously warned business is ‘dismayed’ by the l ack of action on infrastructure.

Additionally, the EEF wants better support for innovation, including more funding for the Catapult network of centres which assist small companies to adopt, develop and exploit new products and technologies.

EEF chief executive Terry Scuoler said: ‘We have seen a significant turnaround in the economy over the last year, and it is important for the Government to maintain its focus on areas which drive growth, including maintaining a competitive tax regime and other measures which support high value investment and innovation.’