CBI calls for major investment in roads

9th October 2012

The Confederation of British Industry (CBI) has suggested that Britian's severely congested roads need urgent investment, which may come in part from road tolls.

John Cridland, director-general of the CBI, said that gridlocked roads are costing the country £8 billion a year.

He said: "A lack of investment means we are really struggling to increase road capacity, let alone adequately maintain what we already have."

The CBI has suggested that the answer is a Regulatory Asset Base model, which would involve securing private investment to plug the shortfall in funding for Britain's roads.

It has said that an independent regulator would be necessary to ensure that both motorists and investors were getting the best deal.

According to the CBI, some 84 per cent of businesses stated that the reliability and quality of transport had a "significant bearing on their investment decisions".

Delivering a speech on infrastructure, Prime Minister David Cameron described the need to mend the "decades-long degradation".

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