Investment in infrastructure plan vital for West Midlands

RESEARCH from a leading property industry body suggests that the Government’s plan to underwrite investment in infrastructure can’t come quickly enough as far as the West Midlands is concerned.

According to the RICS’s construction market survey for quarter two 2012, infrastructure workloads across the region were flat during the three months to June and little movement has now been seen in the sector since 2009.

This low level of activity was reflected across the entire construction sector in the region with 2% more respondents reporting falls rather than rises in workloads. However, it is the public sector where the pressure continues to be greatest.

The Government announced yesterday it is to underwrite up to £40bn of investment in infrastructure to try to lift the economy.

Chancellor George Osborne said the UK Guarantees scheme would help release private sector funds and kick-start schemes which have stalled due to problems raising funds.

The pledge was welcomed by West Midlands Institute of Directors chairman John Rider.

He urged ministers to look at regional transport projects as well as expansion of broadband, especially into rural areas.

“Big infrastructure projects can get things going and create jobs so I very much support this development,” he said.

“There is a shopping list of schemes in the West Midlands, from the relative small like the re-opening of Moseley station, to the very big, faster progress on HS2, a hugely important project.

“This is very encouraging but how long will all this take to get going? We need to slash the bureaucracy and rev up the bulldozers.”