PwC comments on new National Productivity Investment Fund
Published at 18:11 PM on 23 November 2016
John Hawksworth, Chief Economist at PwC, commented:
"The government is planning a total of £23 billion of additional capital investment, over and above previous plans, over the five years between 2017/18 and 2021/22. This will provide some support to the economy during the period of uncertainty while the Brexit negotiations are taking place but, more importantly, will also boost the supply side of the economy in key areas such as transport, communications and R&D.
In particular, it was good to see £7.2 billion of the fund allocated to supporting new housebuilding, including by Housing Associations. A lack of housing supply has been one of the key weaknesses in the UK economy in recent decades and this extra money should begin to address this long-standing problem together with measures to reform planning regimes and free up more public land for new homes to be built."
ENDS
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