These figures are contained in a new survey published by the CBI, with most (90% saying that ‘investment is put at risk by short-term changes to policy’ – reflecting ‘recent uncertainty’ over the government’s renewable energy policies.
Most businesses (96%) are concerned about congestion on Britain’s roads, which costs the economy £8 billion a year, according to the RAC Foundation.
More than half (56%) want increased spending on motorways and main roads – which rises to two-thirds (67%) of Scots businesses.
John Cridland, CBI Director-General, said: “The arteries of modern Britain are working overtime. Whether it’s our creaking railways, clogged roads, and crowded runways, or our digital links and the energy to power them struggling to keep up, businesses now want the Government to deliver the large scale upgrades that it has made ambitious strides towards.
“The quality of infrastructure is a key factor in firms’ investment decisions, so businesses, communities and the whole country simply can’t afford the cost of inaction.
“Business and government are on the same page on the need to invest in our infrastructure future, as we have seen with the creation of the National Infrastructure Commission. But that hasn’t stopped wrong turns being taken – like the reversal on Government support for renewable energy.
“With 94% of the 722 firms we surveyed saying the quality of infrastructure is a key deciding factor in planning their investments, there is clear consensus on the need to speed up the delivery of projects crucial to the British economy in this Parliament, and to reverse decades of underinvestment and policy change.”