Government infrastructure strategy will give businesses much needed clarity – Chamber

Business leaders in Greater Birmingham have welcomed the recently published 10-year infrastructure strategy of the government saying it will bring ‘much needed clarity’.

The strategy is backed by at least £725 billion of government funding for infrastructure over the next decade, covering both economic and social infrastructure for the first time.

Key areas highlighted in the strategy include supporting delivery of 1.5m new homes, a new fund to repair major structures on the road network, quadrupling investment in new water infrastructure, rebuilding projects over 500 schools and building over 35 hospitals.

The strategy also highlights committing to 2.6 per cent of GDP by 2027 on NATO qualifying defence spending and major investments in clean energy and nuclear energy.

Commenting on the report, Greater Birmingham Chambers of Commerce head of policy Emily Stubbs (pictured) said: “This 10-year infrastructure strategy will give businesses and supply chains much needed clarity and certainty to plan.

"Crucially, it will create a landscape for crowding in investment and help to bolster business confidence, with renewed commitment to long-term projects playing a vital role in driving economic growth across the West Midlands, including HS2 and the Midlands Rail Hub.

"The Chambers across the region wrote to the Chief Secretary to the Treasury to encourage the Chancellor to reaffirm the Government's commitment to the Midlands Rail Hub earlier this year, and it is encouraging to see that the voice of the local business community has been heard.

“Successful delivery will also be dependent on the detail and having the skilled workforce in place. So, it’s vital this strategy is underpinned by a robust skills strategy and an efficient and effective planning system. 

“To drive growth, we now need to see strategy become reality, with change implemented at pace.”

Read the letter sent by the Chief Executives of the Greater Birmingham, Coventry and Warwickshire, Black Country and East Midlands Chambers to the Chief Secretary to the Treasury in April.