A report from the Policy Exchange suggests that Britain would need £434bn to overhaul its infrastructure in order to be competitive in today’s world.

Businesses have a massive burden placed on them through dealing with poor power supplies, limited access to resources, time/money wasted in congestion and high maintenance costs.

Pointing out that our electricity grid is 1970s technology, post-war transport networks and Victorian plumbing the report highlights that businesses and individuals end up wasting a lot of time and money. And yes, 1970s technology is old (wasteful and dirty) in new and fast-paced world of electrical technology.

Comparitively, a UK person brings the country $45 per hour while a Frenchman brings in $54, and as their wellbeing costs are high and employment hours are fewer than ours, the assumption is that their fantastic access to resources makes up for the rest. Individuals can work efficiently and business are not constrained in their placement or access to resources.

That’s £434bn by 2020, and they suggest that the private sector pays.

It seems to me that the private sector would sooner move to cheaper and better resourced countries than pay to upgrade an aging beast.  The country will have to decide on its values and priorities, and decide whether to make this investment, which I believe would mean addressing education and health too, or to continue to spend the money as it does.

Where is that, by the way?