London CNN —UK Prime Minister Rishi Sunak has taken the axe to Britain’s biggest current infrastructure project, despite warnings from business leaders that the U-turn will damage investor confidence in the country.
“This means £36 billion of investment in the projects that will make a real difference across our nation,” he added.
“Any deviation could result in a loss of investor trust, and this would have a considerable negative impact on the UK.
The ambitious HS2 project falls into this category.”The U-turn was also blasted by Richard Walker, the boss of supermarket chain Iceland, and until recently a long-time Conservative Party member.
The government’s “evident inability” to deliver on major projects “is devastating to both its credibility and to business confidence,” Walker wrote in The Guardian newspaper Sunday.
Persons:
Rishi Sunak, Sunak, ” Sunak, Andy Street, We’ve, Tom Wagner, Wagner, ”, Richard Walker, ” Walker
Organizations:
London CNN —, Manchester —, Conservative Party Conference, Conservative Party, Conservative, Investors, LBC, Knighthead Capital Management, Birmingham City football, The Guardian, “
Locations:
London, Birmingham, Manchester, United Kingdom, England, Iceland