Imagine the jobs, apprenticeships, the skill base developed, the new industries and opportunities that we will create as we embark on our project to rebuild Britain and enact these projects through our Bank of Britain.
This investment below is just to ensure we remain competitive, we intend that we become a world power again.
We intend to undertake a project of national renewal - based on Britain becoming an energy independent, industrial and manufacturing, Hi-Tech Manufacturing, Integrated Energy Systems and Hard Industries economy as opposed to simply being the bankers for the New World Order.
Britain needs to spend £500bn on infrastructure, says IoD
Britain needs to spend at least £500bn on infrastructure over the next decade if it is to maintain its economic competitiveness, according to the Institute of Directors (IoD).
By Angela Monaghan
Published: 7:00AM BST 15 Apr 2010
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Public spending on the UK's energy, transport, water and technology networks should be ring-fenced, despite the need to sharply reduce the record deficit, because of the positive effect it would have on economic growth, the IoD said in a report published on Thursday.
It said £300bn needed to be spent on energy infrastructure by 2020, £130bn on transport, £40bn on water, and £30bn on communications.
"Radical financing solutions" would be required, and the organisation suggested one option for the next Government would be to use the future proceeds from bank privatisations to pay for new infrastructure.
"Cutting infrastructure spending may be politically easier than reducing other areas of public expenditure, but the consequences for the UK's already creaking infrastructure will be with us for years to come," said Miles Templeman, director-general of the IoD.
"For the sake of the UK's long-term growth prospects, I urge the Government to reconsider its decision to halve infrastructure spending over the next four years."
The IoD says poor infrastructure has been long prevalent in the UK , but that competitive failings have been offset to some extent by the UK's tax competitiveness and strong financial services sector.
"But with the recent erosion of competitive strength in these two areas our weak infrastructure becomes even more problematic," it says.
The IoD argues that an Infrastructure Planning Commission, which speeds up the planning approval process and cannot be overridden "on a whim by politicians", will be crucial in building private sector investor confidence.
It says existing spending plans should be changed, so that infrastructure investment is the only ring-fenced area of public spending.