Spending Review 2013: PwC head of infrastructure wants to see less talk and more action on infrastructure spending

Published at 12:00 PM on 25 June 2013

Commenting ahead of tomorrow's comprehensive spending review, Richard Abadie, partner and global head of infrastructure at PwC said:

"Through the last couple of spending reviews there have been significant policy announcements or re-announcements about capital spending.  However, the announcements have not made a significant impact on jobs and growth.  With the previous acknowledgement that capital budgets shouldn't have been cut at the very point stimulus was needed, I'm hoping for spending plans that will generate growth in construction and housing sectors.

"The construction industry has been contracting for the last six months and has only in the last month seen very marginal growth, so the money isn't finding its way into the economy.Spending that's allocated to near term infrastructure activity rather than long date ideas, has much more current benefit.

"Away from the hype of announcements, we need a more realistic portrayal of the impact of any additional infrastructure expenditure.  Decisions around the acceleration of the South-East England runway decision, commitment to spend money on affordable housing and road widening projects coming forward together with increased spending on railway infrastructure by Network Rail are all areas where progress is needed. Let's put the emphasis on expenditure in the near term to build long term economic growth."

ENDS

To speak to Richard today or tomorrow following the speech, please contact Stephanie Howel on 07734 456098 and follow @PwC_UK for all the latest predictions and reactions on the day around the comprehensive spending review.


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