Some investors understandably may be taking a ‘wait and see’ approach in the run up to the election. We have set ourselves an investment target of 25 percent of GDP. We have some way to go to reach that target. I am certain that with the election successfully out of the way, we can see investment rising again towards 25 percent of GDP.
This percentage will be bigger for 2008–2013, as the recession is expected to continue, albeit at a slower pace. The recession led to a dramatic decline in employment and pushed the unemployment rate up to a historically high annual average of 24.5% in 2012; a further rise is expected in 2013.