Alarm Bells Ringing As Key Infrastructure Projects Delayed
Reacting to Government confirmation that there will be delays to the plans for HS2 and the Lower Thames Crossing, Alex Veitch, Director of Policy at the BCC, said:
“The delays to HS2 will start alarm bells ringing and raise fears that it will be cut further. It is also disappointing to hear that the Lower Thames Crossing has been put back two years.
“These projects are essential to boosting the future prosperity of our regional economies and improving our national infrastructure.
“If the Government reneges on its plans for HS2, now then businesses will have no confidence in its ability to see any longer-term investment projects through.
“Investment in infrastructure not only promotes long-term growth in the UK economy, it injects much-needed money into local economies and create jobs.
“This in turn will feed revenue back into the Treasury coffers, generating a return on investment for the Government.
“Alongside Government expenditure there is always private money being ploughed into growing local businesses through the supply chains of smaller businesses.
“The money spent by Government on public procurement contracts stays in local areas, boosting local economies.”
The full announcement on the delays can be found here.