John Rider, West Midlands chairman of the Institute of Directors, said: “I have long called for spending to be more focussed towards building projects which generate significant benefits for the economy, get the construction industry moving and create jobs.
“The Government does not have to look hard to find West Midlands projects in need of funding; indeed there are transport schemes across the region which could get underway quickly. Now we need to get on with it. There needs to be immediacy – something that has been all too lacking in many previous Government announcements. Across the board there is too much delay and this must be urgently addressed.
“However the Government are absolutely right to insist that the new infrastructure expenditure be paid for out of savings elsewhere, rather than more borrowing.”