Warning over massive cost of delayed infrastructure projects
Cancelled and delayed infrastructure projects are costing the UK economy £48,000 a minute, a report warns.
Even delaying a transport scheme by a month will lead to the economy missing out on £2 billion worth of investment over five years, said consultancy firm Arcadis.
A report, The Spiralling Cost Of Indecision, said the Government needs to send a signal to the world that Britain is open for business, by pressing ahead with vital infrastructure projects.
Chris Pike, of Arcadis, said: " Some of our most ambitious projects, from energy to state-of-the-art transportation, have huge potential to bolster the national economy.
"With delays being such a recurring issue when it comes to British infrastructure, we are potentially missing out on around £48,000 each and every minute. These are big numbers and we simply can't afford to delay unnecessarily.
"Clearly, there are a number of reasons for projects not going ahead on schedule but, all too often, stalling could potentially be avoided or, if the impacts were clearly understood, decisions may be taken differently."