Salvaging Britain's crisis-hit transport system will cost more than £200 billion over the next ten years, according to the Confederation of British Industry.
The CBI's National Council, the ruling body of members, agreed overall transport spending proposals during a meeting at the organisation's London HQ.
These initial proposals cover public and private investment in all types of transport across Britain.
Included, for the first time in a programme like this, is a substantial indicative fund to ensure current and future infrastructure meets high environmental standards.
The CBI also calls for radical reform of the way the Government finances and delivers transport. It calls for a debate on these issues over the coming months.
This autumn it plans to make a further major contribution to that debate by setting out priority investment projects across the country with ideas on financing options for them.
Digby Jones, CBI director-general, said: "After years of under-investment and delayed projects, the present transport system is failing business and society.
"That is damaging to wealth creation, social inclusion and employment. It goes to the heart of productivity for business.
"Now is the time for the Government to turn words into action by making tough spending and funding choices. That is the only way to tackle the poor services, overcrowding, unacceptable congestion and concerns about safety."
The CBI calculated its figures by costing the measures needed to achieve the Government's best-case projections for reducing congestion over the period to 2010.
The total includes £25 billion on trunk roads and motorways, £79 billion on local transport, £62 billion on rail, £9 billion on aviation and £3 billion on ports and waterways.
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