INVESTMENT in infrastructure has long been seen as a catalyst for economic activity. We need only to think of historic industrialisation and railway development or the progress of the railways across America to understand the logic in that.
As we face up to the consequences of the EU referendum decision, with the economic uncertainty that has created and now the spectre of a return to recession, it is natural that we look once more to infrastructure investment.
Government intervention in such a manner has a number of benefits. It provides throughput for the engineering and construction sectors and the associated supply chains. Appropriate investment can also address obstacles not only to efficient means of doing business but also to business generation and social inclusion.
Before the Brexit decision there were announcements of significant further investment in road, rail, electricity, water and sewerage and broadband schemes. To ensure we face the future with connectivity, capacity and resilience which is fit for purpose, those schemes must still be delivered.
A number of City Deals have been entered into whereby the UK and Scottish Governments will fund infrastructure and skills projects. There should be no shrinking back from funding commitments already made.
The City Deal concept though is not solely about spending government money, it is also about unlocking private sector investment.
When we hear of Brexit creating not only challenges but also opportunities, it is worthwhile thinking creatively about how we organise our cities.
Brexit may yet prove to be the catalyst, if only through necessity, of an era of more adventurous attitudes to trade and entrepreneurship. Our cultural aversion to business risk is in marked contrast to the attitude in the USA, for example.
Work is already underway on the use of big data, of analytics, for smarter cities and for better resource management through a circular economy approach. In these and many other areas, Glasgow leads the way.
Whilst traditional infrastructure investment is still needed at a number of levels, that alone will not suffice. In challenging times added effort and determination are needed. So too are initiative and entrepreneurial spirit. We should facilitate, encourage and invest in the new and the novel, in the knowledge that not all will succeed.
If we are to change one thing in light of the Brexit vote, let it be that we relish the challenge rather than let possible opportunities pass us by.
Neil Amner is president of Glasgow Chamber of Commerce
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