Monday, December 23, 2024
Monday, December 23, 2024

UK infrastructure has worsened in the last 10 years, manufacturers say

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Victoria Smith
Victoria Smithhttps://dailyobserver.uk
A well organized Business Reporter experienced in writing financial articles, e-books, essays, editorial pieces, press releases. 15+ years of experience in writing and editing financial news Excellent knowledge of the stock market functions and financial world. Skilled in researching and collecting information on business world important happenings and events.

The Daily Observer London Desk: Reporter- Victoria Smith

Most British manufacturers think the country’s infrastructure has deteriorated over the past decade, a survey has found.

Consultancy RSM UK and industry body Make UK found that 68 per cent of firms believe the quality of Britain’s national infrastructure has slid in the past ten years, while 57 per cent said it has become worse at a local level.

Rail and road networks were viewed the most negatively by manufacturers, with a significant minority also saying the country’s broadband had become poorer.

Train trouble: The UK’s rail and road networks were viewed the most negatively by British manufacturers, in a survey which took in their views on infrastructure

At the same time, most employers said the state of the country’s infrastructure was hobbling access to necessary labour and skills, and over a third agreed that it was slowing the UK’s pace of decarbonisation and progress towards net zero.

Manufacturers want the Government to back their investment plans by giving greater power to local authorities and companies to make improvements, especially with regard to energy, roads and broadband.

Mike Thornton, national head of manufacturing at RSM UK, said it was crucial for infrastructure investment to form a core element of a long-term industrial strategy.

He added: ‘Only then will the business environment in the UK meet the needs of industry and employees and effectively connect people and place together.’

The survey comes a few days after the National Infrastructure Commission warned that Britain would have to invest tens of billions extra per year in infrastructure to help address climate change and reduce regional inequality.

It called for increasing the average amount spent annually from £55billion in the last decade to £80billion in the 2030s, with more than half the rise coming from the private sector.

Huge upgrades to public transport, water networks and energy systems are among the major proposals recommended by the public advisory body.

For around £3.2billion per year until 2035, it said the Government could enhance energy efficiency and install heat pumps across almost all housing, with people on lower incomes receiving a free installation.

The body also suggests £22billion be spent on mass transit schemes, mostly in the city regions of Bristol, Birmingham, Manchester and Leeds.

Britain has historically committed a smaller proportion of its GDP to investment than its European neighbours, a factor often blamed for its sluggish productivity since the global financial crisis.

Earlier this month, Prime Minister Rishi Sunak announced that the northern leg of the proposed HS2 high-speed railway line would be scrapped.

He said the money saved from the measure would be diverted towards transport projects across the North and Midlands.

Yet he received significant backlash from some business leaders and politicians, who warned him and the Government that it could hinder the UK’s ability to attract investment.

Verity Davidge, director of policy at Make UK, said: ‘The recent announcement on HS2 with no Plan B was indicative of short-termism and giving up when the job is half finished.

‘Right across our road, rail, energy and digital networks, we need an infrastructure plan on a scale not seen since the Victorian era; otherwise, the economy will be condemned to life in the slow lane.’

Victoria Smith
Victoria Smithhttps://dailyobserver.uk
A well organized Business Reporter experienced in writing financial articles, e-books, essays, editorial pieces, press releases. 15+ years of experience in writing and editing financial news Excellent knowledge of the stock market functions and financial world. Skilled in researching and collecting information on business world important happenings and events.

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Victoria Smith
Victoria Smithhttps://dailyobserver.uk
A well organized Business Reporter experienced in writing financial articles, e-books, essays, editorial pieces, press releases. 15+ years of experience in writing and editing financial news Excellent knowledge of the stock market functions and financial world. Skilled in researching and collecting information on business world important happenings and events.