‘Infrastructure spending must increase’

PROPERTY lawyer Stephen Chalcraft argued that more needs to be spent on infrastructure at a Pro Manchester event yesterday.

Mr Chalcraft, a partner at Pannone, said only 1.4% of the UK’s gross domestic product is being spent on capital projects.

He said: “There is currently more interest in the housing market than in infrastructure. However, economists are now beginning to argue that the focus needs to shift and we need to start investing in infrastructure to keep up with other European countries.”

Mr Chalcraft, chair of Pro Manchester property and regeneration group, was speaking at a breakfast meeting held by the membership body. Other speakers included Manchester City Council leader Sir Richard Leese and and Baroness Susan Williams, campaign director of North West Rail Campaign.