MPA welcomes spending review but reiterates need for accelerated delivery

The Mineral Products Association (MPA) of the UK welcomes the Chancellor’s commitment to increase public investment to over GPB50bn per year from 2015-16 as well as the announcements on infrastructure, but remains concerned about the need for short term investment prior to the election.

Nigel Jackson, Chief Executive MPA, said: “We have heard the words, we now need a greater sense of urgency and accelerated delivery to create confidence for the private sector to invest to really boost growth.”

The 2012 Autumn Statement announced additional funding for transport including road construction and road maintenance.  However, sales volumes of asphalt for road surfacing have declined by eight per cent so far this year, following an 18 per cent decline in 2012, indicating that delivery of this additional funding on the ground has yet to start happening.

Jackson added, “This shows that there can be a gap between policy aspiration and delivery on the ground which can undermine confidence.

“The imperative to build more affordable and private housing due to the chronic undersupply, as well as replacing our fragile energy supply capacity and transport system remains as strong as ever.”