StockMarketWire.com - Britain's bosses have backed prime minister David Cameron's plans to attract private sector investment in maintaining roads and improving the country's infrastructure.

The Confederation of British Industry says the main priority in the Budget must be to stimulate growth and one of the best ways to create new jobs is by attracting investment into the UK's ageing infrastructure.

Director-general John Cridland said: “Congestion on our roads costs the UK economy up to £8bn 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.”

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