UK LOSS; ECONOMY TODAY.
The UK could lose billions of pounds every year if its infrastructure is not brought up to the standard of other developed countries, a report has warned.
The RSA City Growth Commission claims that without further investment the economy could miss out on PS90bn every year by 2026. It has called for a revamp of transport, housing and broadband provision, with the priority on connections between northern cities. The City Growth Commission suggests that the Government should give freedom to individual cities to operate as "whole systems" so they can have more say in making decisions in the best interests of their areas, rather than relying on central decision-making on infrastructure investment. The Government should also review the UK's needs for digital infrastructure, while planning policies should be changed to encourage more house building. The report said the UK had "chronically under-invested" in infrastructure.