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The CBI commented on the launch of the National Infrastructure Commission.

John Cridland, CBI Director-General, said:

“The Government is heading in the right direction with the establishment of the National Infrastructure Commission, which has the full support of business.

“But with two thirds of businesses wanting to speed up the pace of progress on infrastructure, it’s vital that we make delivery of key projects the hallmark of this Parliament over the next five years.

“More than nine in ten firms say that the quality of infrastructure is critical to planning their investments, so rediscovering our Victorian forebears’ passion for building will help get projects fundamental to our economic future moving.”

The recently published 2015 CBI/AECOM Infrastructure Survey of 722 firms showed:

• Almost all firms (98%) want to see an evidence-based approach to long-term infrastructure decisions. 99% of firms see this as the top priority for George Osborne’s National Infrastructure Commission
• The majority of businesses (62%) are concerned with the pace of progress on the delivery of infrastructure projects
• 94% of businesses said the quality of infrastructure is a key deciding factor in planning their investments
• Twice as many firms (43% of all businesses and 49% of infrastructure providers) see UK infrastructure improving instead of deteriorating (23%)
• There are £411 billion worth of infrastructure upgrades needed in the UK. These include a new runway in the South East (important to 91% of firms), upgrades to the rail network (45% of firms want spending increased), and investment in a diverse, secure energy mix (vital to 97% of firms).