CBI calls on greater private investment in businesses

The Confederation of British Industry (CBI) is calling on the government to do even more to help boost private investment and to deliver expansion for small firms.

Responding to the National Audit Office's (NAO's) report 'Planning for Economic Infrastructure', the organisation said that as government spending remains squeezed, it is only right that the private sector steps up and helps out.

And Director for Business Environment at the CBI, Rhian Kelly, said that the country cannot afford any further delay in "getting spades into the ground".

"Investing in rail, roads, energy, waste and digital infrastructure is a no-brainer. It creates thousands of construction jobs in the short term and generates growth in the long-run," she noted.

"The NAO is right to call for greater clarity for taxpayers and consumers but the CBI wants the government to do much more to give investors certainty and confidence - to attract finance and drive down project costs."

It comes after research by Ingenious Britain revealed that only 28 per cent of small businesses have faith in their energy supplier, suggesting changes are required.

Posted by Thomas Fletcher

Date published 17 Jan 2013 | Last updated 17 Jan 2013