17 May 2024
Research carried out by the Institute of Directors (IoD) has revealed that business leaders' infrastructure priorities have 'shifted' compared with the situation at the start of the current parliamentary term.
According to the IoD, the road network is now seen as the most important area for infrastructure investment. In a recent survey carried out by the business group, this was prioritised by 66% of directors compared to 54% in 2019.
Businesses also emphasised the need to develop renewable energy generation and improve the existing rail network.
Commenting on the research, Roger Barker, Director of Policy at the IoD, said: 'Infrastructure is the backbone of a successful economy, and a prerequisite for economic growth and productivity. However, investment needs to be targeted in the right places. Directors' assessment of what will deliver the greatest return for the UK economy has evolved over the last five years.
'Directors are increasingly seeking solutions to their everyday transport needs rather than grandiose projects, which are costly and difficult to deliver. They also expect government to support them in their shift to more environmentally sustainable business models, with a particular focus on renewable energy generation and the achievement of net zero.'