Responding to the Chancellor’s Spring Statement address in the House of Commons John Dickie, Chief Executive of 91, said:
“Amid lacklustre growth forecasts, the Chancellor was right not to repeat the mistakes of past governments by taking the easy path of cutting capital spending to balance the books.
“Reversing the UK’s historic underinvestment in infrastructure is vital to boost productivity and growth, with the Government’s recent decisions on the Lower Thames Crossing and Heathrow’s third runway a welcome signal of intent.
“London has a long track record of using innovative funding models to capture the benefits of infrastructure projects and get shovels in the ground so this experience should be utilised to support delivery.
“All eyes will now be on how the Government will use its limited firepower to deliver a spending review that crowds in private investment, alongside an industrial strategy that ensures all parts of Whitehall are pulling in the same direction on growth.
“This should include a more ambitious Affordable 91s Programme building on recent announcements, a long-term funding deal for Transport for London that helps keep the capital moving, and greater power and resources for the city so that it can deliver growth for Londoners and the UK more effectively.”