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The widening of the A453 between Junction 24 of the M1 and the A52 in Nottingham is seen as the East Midland's top transport priority, bringing estimated benefits of £320m to the region.

It is among a list of 13 key transport projects* which would deliver £85bn of benefits to the UK's economy.

Derbyshire and Nottinghamshire Chamber of Commerce contributed to a study by the British Chambers of Commerce to identify the nation's most crucial transport projects over the life of the next Parliament. Further transport priorities across Nottinghamshire and Derbyshire, as identified by local firms, will be unveiled in the release of a new Regional Transport Infrastructure Survey in March.

The A453 is seen as the top priority because of its link to East Midlands Airport - one of the UK's largest air freight hubs. The high volume of traffic has meant the road's design capacity has not been able to cope with demand.

In some places the road carries double the amount of traffic suitable for a single lane carriageway, leading to congestion, particularly at peak times.

In order to allow the road to meet demand for business travel and freight, the road will need to be widened from Junction 24 of the M1 to Farnborough Road Junction. The scheme is vital if the airport is to expand.

The plans to widen the road, which will cost an estimated £98m according to the BCC, although local estimates put the cost at nearer £150m. 

They are currently awaiting approval from both the Secretaries of State for Communities and Local Government; and Transport.

George Cowcher, Chief Executive of Derbyshire and Nottinghamshire Chamber, said: "The widening of the A453 is seen as the region's key transport priority. Despite the ongoing pressure on the public finances and the need for spending cuts to bring down the UK's huge budget deficit, the Chamber believes that the economic benefits that this project will bring will far outstrip the cost to implement it.

"This project will play a crucial role in promoting economic growth across and helping businesses to create jobs in the East Midlands over the next decade. In order for this to be delivered, both the funding and the political intent must be guaranteed by whichever party gets into government after the general election."

David Frost, Director General of the British Chambers of Commerce, added: "Transport infrastructure cuts must not become a politically convenient way to slash spending after an election, especially when there are huge savings to be made in far larger budgets, including health, education and welfare.

"A government focused on the UK's future economic success must do everything it can to protect investment in priority transport projects. These infrastructure improvements will not only unlock much-needed economic growth, but will also help the hard-pressed UK construction sector and local businesses in the supply chain.

"Public resources are constrained, of course we understand that, but cutting or scrapping plans for regional transport improvements means fewer jobs, and ultimately fewer businesses driving recovery."