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New CBI chief calls for focus on energy investment

New CBI director-general John Cridland has urged the government to prioritise attracting investment for energy and infrastructure projects.

Mr Cridland named four key priorities for his period in the post, which began yesterday:

  • how to make the UK a more attractive place to invest
  • encouraging more firms to export
  • removing barriers to job creation; and
  • continuing to tackle the fiscal deficit

He said: “The UK needs to attract more than £100 billion investment on the energy markets in the coming decade, to ensure we can keep the lights on and move to a low-carbon economy.

“To achieve this, there is a complex set of levers including planning, licensing, waste disposal, pricing, market regulation and market support. If the UK Government doesn’t win investors’ confidence, there is a risk that money required to build new nuclear power stations and renewable energy will go abroad.”

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