This is according to the latest report from Arcadis, which also found that infrastructure delays and cancellations would amount to a cumulative £35bn of either deferred or missed GDP by 2020.

The figures reveal that a one-month average delay in scheduled transport projects would lead to over £2bn in lost GDP over the coming five years, the equivalent to £48,425 for every minute of delay.

Chris Pike, infrastructure client development director at Arcadis, said that the government has invested heavily in infrastructure following the global crash in 2008.

“…It was this that contributed to the UK weathering the storm and remaining relatively strong through years of uncertainty.

“Now as we enter uncertain times once again as a result of leaving the EU, our nation needs the same commitment – perhaps more so than at any other time in a generation.”

Chris added that although the government recognised the role infrastructure and construction played, since the EU referendum, it had been slow to recognise the importance of committing to projects.

“…When it comes to finally pressing the button and getting major schemes moving, the conviction appears to be lacking.

“One might argue that it is only fair to allow the new government time.

“However, with nervous financial markets and industry already suffering as a result of construction activity being at a seven-year low, delaying existing projects or failing to commit to new ones is damaging.”

Last month, the chief executive of the HS2 rail project stood down, while the London mayor Sadiq Khan has clashed with Theresa May on whether Heathrow should be given a third runway.

Chris concluded by saying that getting things moving, in terms of infrastructure, could undoubtedly help revise the UK’s industrial strategy.

“We need to sustain the progress of development and, while issues around labour constraints are likely to become ever more pertinent in the wake of Brexit, technical solutions such as off-site manufacturing or new technologies, as well as supporting skills, employment and education and greater diversity, will play an increasing role.

“We need to get the industry moving.

“Add to this a defined long-term pipeline, and a transparent timeline by when decisions need to be made and we have a system capable of delivering what the nation needs in a more timely, accountable way.”