John Cridland, CBI Director-General, said: “I have a queue of businesses at my door telling me delivery of the Government’s Infrastructure Plan needs speeding up. The new guarantees scheme has so far only managed to deliver two projects. More are in the pipeline but we need them delivered.

“We need ministers to pick three or four big infrastructure projects that demonstrate to investors what we can achieve and then doing everything in their power to see them through.

“We need to get the planning system working effectively, use the guarantees scheme flexibly and get these projects over the line. This is how we demonstrate to global investors that UK infrastructure is a prize worth pursuing, drive construction activity and build a platform for future prosperity.”