BCC backs UK road investment

<p>The BCC has supported the government’s plan to invest in improving the UK’s road network.</p>

The British Chamber of Commerce (BCC) has supported the government's decision to invest in improving the UK's road network.

Transport secretary Patrick McLoughlin announced yesterday (December 1st) a range of major works designed to significantly upgrade the nation's motorways and roads. Dubbed the "roads revolution" for England, this £15 billion investment will include 100 road improvement schemes and the addition of 1,300 new miles of extra lanes across the nation.

One of the key measures is the introduction of 'smart motorways' on some of the busiest routes in the country. The M62 between Manchester and Leeds will be one of the motorways upgraded. A smart motorway allows the hard shoulder to be used as an extra lane when the route is busy while special speed limits are implemented to reduce congestion.

Mr McLoughlin noted that a long-awaited tunnel on the A303 at Stonehenge will be introduced while £2 billion will be spent upgrading all of the A303 and A358 to the region a dual carriageway. In the north-east the A1 will be converted into a dual carriageway from London to Ellingham, close to the Scottish border.

The government explained that the work will not only be a major benefit for motorists, it will also help to create numerous jobs. Not only in the construction phase but also allowing ease of access for people that need to commute to work.

Members of the BCC backed the investment plan stressing that improving the nation's roads was vital for boosting business growth. John Longworth, director general of the BCC, stressed that the government needs to follow through on its commitment and ensure these projects are delivered.

Mr Longworth said: "The strategic road network is vital to the UK, but for too long it has suffered due to piecemeal investment and constant changes to government policy. This approach must change if we are to ensure the road network can cope with the expected increase in traffic volume in the years ahead."

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.