CBI: The prime minister’s goals could not have come at a better time

John Cridland, secretary general of the Confederation of British Industry, welcomes the government's proposals today on the potential for part-privatisation of British roads:

"Congestion on our roads costs the UK economy up to £8 billion a year, so the Prime Minister’s ambition to get much-needed private investment into the strategic network could not have come at a better time.

"Every £1 spent on infrastructure adds £3 to the economy as a whole.

"In the short-term, we need contracts to be agreed with companies to maintain our roads and repair the potholes.

"In the longer-term, investor confidence will be critical to injecting new money into removing bottlenecks, reducing commuting times and helping firms to transport their goods."