Stephen Marcos Jones, CEO of the Association for Consultancy and Engineering (ACE) which represents the companies large and small who design, deliver and manage our national infrastructure and built environment, reacted to today’s fiscal statement from Chancellor Kwasi Kwarteng:

“Ahead of the statement we called for an assured programme of projects from the public sector to drive growth and support jobs across the UK. This is why we were pleased to see positive steps announced on expediating 100 infrastructure projects and the establishment of new investment zones.

“While we await more detail of how the planning process will be simplified for significant infrastructure projects in forthcoming legislation, the announcement that 100 projects have been earmarked for construction to start by the end of 2023 will be welcomed by our members and the wider industry.

“The establishment of 38 investment zones is also encouraging. Building on the Freeports concept, they will help to stimulate private sector investment, encouraging development across the country, driving levelling up ambitions, supporting regional development and creating jobs.

“Business needed Government to deliver a structured plan to tackle the increasingly worrying macro-economic situation we’re facing. It has done this with a raft of measures aimed at delivering short-term growth and cutting taxes. What it has not offered is a view on how medium to longer-term investments can also support our economy back to prosperity while delivering ambitions around productivity, Net Zero and Levelling Up.”