The Confederation of British Industry (CBI) has said that the Government should do more to get investment for public infrastructure projects. And I agree with them. I am not doubting that the deficit needs to be cut, and cuts have to be made. But if infrastructure is a great way to get the growth that we desperately need. It acts as a catalyst to get the economy moving even faster.
There are many benefits to investing in infrastructure projects. Firstly, there are the jobs created in the construction when a new bridge or railway is built. That is the one industry that is holding us back, so any way of growing it is a win-win situation. Then there are the jobs created when it is actually built. Buildings such as power stations and airports need staff to work in them, so unemployment falls, the welfare bill falls and the Government's income increases. Added to this is the way that businesses will grow. When transport or communication becomes easier and quicker, companies can spread their reach much further and open themselves up to new markets and customers.
Our infrastructure is rapidly falling behind many of our competitors. Our motorways are falling apart. Our railways are a laughing stock. Our power stations are too old. Our airports are too full to take any more planes. We need to spend money to get money back, and if we build a new airport in the Thames Estuary, three or four new nuclear power stations, a bridge over the river Wear and new train stations and railway lines we will see the economic benefits in no time at all.
President Roosevelt used this strategy in the 1930s and they were out of the Great Depression before they could say Jack Robinson. Well, that may be a slight exaggeration, but the piont still stands. So come on Britain. Get out you spades and start digging!