PFI's future a 'totemic' issue
He added the future of PFI had become of “totemic importance” to the future of infrastructure investment, as investors wait to see how the new model can entice them into the market.
Speaking at the launch of the CBI and KPMG’s joint 2012 infrastructure survey. Cridland said the group has two aims for the government this autumn: “Make your mind up on PFI [and] streamline the procurement and planning of the schemes that matter most.”
The report found that while businesses have recognised the government has done a lot of work over the past 12 months and issued a raft of policy statements, this has yet to filter through into “diggers in the ground”.
KPMG’s UK head of infrastructure, Richard Threlfall, said the report revealed that in general businesses do not regard UK infrastructure as being good enough.
“Business confidence in our infrastructure is ebbing away,” he warned. “We need action not words.”
However, he added that the government needs to recognise its role to act as a catalyst, rather than simply providing investment. In this context, he and Cridland welcomed the impact of the UK Guarantees scheme.