U.K. Transport Projects To Deliver GBP 85 Billion Boost To Economy - BCC

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Prioritizing a list of thirteen key transport projects over the life of the next Parliament would bring the U.K. economic benefits worth a massive GBP 85 billion, a study by the British Chamber Of Commerce has suggested.

The business group advised spending on these projects to go forward despite the need for the government to bring down U.K.'s huge budget deficit.

"Transport infrastructure costs must not become a politically convenient way to slash spending after an election, especially when there are huge savings to be made in far larger budgets, including health, education and welfare," said David Frost, director general of BCC.

"A government focused on the U.K.'s future economic success must do everything it can to protect investment in priority transport projects.

Public resources are constrained, but cutting or scrapping plans for regional transport improvements means fewer jobs, and ultimately fewer businesses driving recovery," Frost added.

The BCC estimates the total cost of building these projects, which include London's Crossrail train link and other road and rail improvements, at GBP 29.8 billion - with private sector costs of GBP 14.3 billion and public sector costs of GBP 3.1 billion over a five year period.

Prioritizing a list of thirteen key transport projects over the life of the next Parliament would bring the U.K. economic benefits worth a massive GBP 85 billion, a study by the British Chamber Of Commerce has suggested. (Market News Provided by RTTNews)