Calls by the Organisation for Economic Co-operation & Development (OECD) for the UK government to consider borrowing more to pay for vital infrastructure projects in order to stimulate economic growth have been welcomed by concrete group Britpave.
Following figures showing that the UK has slipped back into recession, Christophe Andre, acting head of the OECD UK office, said that Chancellor George Osborne could relax his debt reduction targets and invest in infrastructure to help growth without adversely affecting the government’s debt reduction programme.
David Jones, director of Britpave said: “The moribund UK economy needs a kick start. Increased investment in transport infrastructure would provide such an economic boost by creating short-term jobs and improve the UK’s long-term business prospects."
Jones said investment in transport infrastructure would address the years of under-investment that has left Britain lagging behind many other countries.
He said: “The Chancellor needs to be less obsessed with debt reduction and more focused on economic growth. The OECD and other economic organisations are right to be calling for infrastructure investment as a sure way to increase economic growth."