Increased commitment to infrastructure is vital
Mark Bourgeois, Executive Director of Capital & Regional comments on UK Chancellor George Osborne’s Autumn Statement…
We see the Government’s increased commitment to invest in the UK’s infrastructure as a vital step in future-proofing our cities and economy. However, it’s important to remember that infrastructure is much more than the traditional elements of water, energy and transport. Town centres within local communities are natural convergence points for major infrastructure and make up an equally important element of our economy’s future.
As the recent report by the industry-led Distressed Retail Task Force suggests, the traditional infrastructure funding models need to be broken and investment should be channelled into town centre regeneration to stimulate growth and demand from a grass roots level. There is value to be sought in digitising town centres and creating experience-driven destinations that combine traditional retail with lifestyle, leisure and social activities for the surrounding communities. This will deliver tangible economic benefits without the longer-term delivery dates of larger infrastructure projects.
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