Balfour Beatty response to the Spending Review
27 June 2013
Responding to the Chancellor’s Spending Review on 26 June 2013, Andrew McNaughton, CEO at Balfour Beatty, said:
“Today’s Chancellor’s Spending Review represents positive and real steps in the right direction for Balfour Beatty and infrastructure in the UK in general. These proposals represent one of the strongest indications that this government understands the key role infrastructure can play in supporting the wider economy and generating the growth the country needs.
“Firstly, we welcome the announcement of £50 billion investment in infrastructure in 2015. To see strong investment in both roads and railways is fundamental to the UK’s core infrastructure needs and supports the drive for inward investment in UK Plc. We are also pleased to see the recommendation to progress with HS2, the renewed focus on the case for Crossrail 2 and progress in relation to energy policy. These recognise the need for sustained investment over the long term.
“Elsewhere, commitment to complex projects such as flood defences, energy related activity and the development of additional schools will help support the economy and local communities. However, cuts at the local authority level will impact local spending which can drive incredible benefits to communities and stimulate growth.
“Although there is no doubt that industry would have wished to see commitments to investment ahead of 2015, the key is the clarity that this commitment provides, enabling businesses to have confidence to invest in the future. We await further details in regard to the £100 billion of infrastructure investment to be announced tomorrow, but see this as a positive step in the right direction.”
Tel. +44 (0)20 7216 6865