The Rt Hon Patrick McLoughlin MP, Minister of State at the Department for Transport has said that investment in infrastructure is now even more important and that the UK must be seen to be open for business and building the infrastructure it needs.
The Minister was speaking at the National Infrastructure Forum which took place in London yesterday.
The MP told delegates that the fundamentals of the UK economy are strong, helped by many of those present. Flagging up work by Network Rail and dozens of major road improvement projects, and ongoing work on Crossrail, he said the UK “enjoys some of the best infrastructure of any developed nation.”
According to the Minister, “HS2 will rebalance our economy and generate colossal benefits for the supply chain.” Progress on HS3, or Northern Powerhouse Rail, would transform the north, alongside the £13 billion being spent on improving transport in the area.
Investment in the long term infrastructure we need has become more important, not less
Patrick McLoughlin told attendees:
“Altogether, transport spending will rise by 50% in this parliament. Because those who control the budgets know exactly how vital this programme is. “
“And as we address the future and the consequences of our vote to leave the European Union (EU), one thing is certain. Investment in the long term infrastructure we need, has become more important, not less.”
Referring to George Osborne’s rejection in 2010 of a recommendation that he cancel Crossrail, he continued:
"The argument was clear: Our economy is in crisis and Crossrail will cost billions. Thank goodness the Chancellor saw it differently…… The economic boost and extra capacity that Crossrail is bringing is badly needed. And backing out would’ve shown the short-termism that got us into an economic mess in the first place.”
Patrick McLoughlin said the case for Crossrail is the same case for new infrastructure now, commenting:
“As we make decisions about our future in the coming weeks and months, it is vital that the UK is seen to be open for business and building the infrastructure it needs to compete.”
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