Spending Review: Deloitte comments on infrastructure measures
27 June 2013
Commenting on the infrastructure measures outlined by the Chief Secretary to the Treasury, Nick Prior, head of infrastructure at Deloitte said:
“The Chief Secretary’s announcements, particularly around energy and investment in the road network, are broadly positive. The visibility over investment in road and rail projects is welcome and will allow for better economic planning.
“There is little here that we hadn’t heard already and there may be scepticism in the sector about turning this rhetoric into reality.
“Most of the measures and money announced will not take effect until 2015 or beyond. The construction industry and the broader economy will be disappointed in today’s announcement as we will only see an economic boost when the shovels hit the ground on these projects.
“Despite last year’s announcements on infrastructure, the construction industry lost 60,000 jobs, activity dropped by 12% and new infrastructure orders fell by nearly 40%. If infrastructure is intended to halt the decline in the construction industry, and revive the wider economy, both projects and money must be bought forward as soon as possible.”
Notes to Editors:
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
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The information contained in this press release is correct at the time of going to press.
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