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Autumn Statement 'should focus on fiscal devolution'

KPMG head of infrastructure, building and construction Richard Threlfall has called on the government to unlock investment in the Midlands and the North to rebalance the economy.

Mr Threlfall said: “Investors need clarity and consistency in the UK’s infrastructure planning. The Autumn Statement is an opportunity for the government to set out its position on Sir John Armitt’s Infrastructure Commission, and if it has an alternative, to detail that.

“The infrastructure community will welcome a further update of the National Infrastructure Plan, but will be looking for more emphasis on a long-term vision for investment.”

Mr Threlfall said the government has shown over recent years that it understands the critical link between infrastructure investment and the UK’s economic prosperity and competitiveness.

He added that longer-term planning and fiscal devolution to major city regions could turbo-boost that investment, leading to the development of regional infrastructure funds and drawing in much higher levels of private capital, ultimately to the benefit of the country as whole.

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