The Institution for Civil Engineers (ICE), has urged the Government to ensure that the forthcoming Budget is used to drive forward the implementation of its plans to secure targeted investment in essential infrastructure.
In the UK’s first National Infrastructure Plan (NIP), launched last year, Government envisaged infrastructure as key driver of competitiveness and economic growth, by increasing private and public sector productivity, reducing business costs, diversifying the means of production and creating jobs.
ICE says there have been significant and positive steps towards achieving this, including the proposal for a Green Investment Bank, the creation of Infrastructure UK (IUK) within HM Treasury, the publication of the first NIP and the formation of a group of senior, cross departmental ministers to ensure a smooth pipeline of projects and indentify potential investment blockages. It also welcomes the IUK Infrastructure Costs Review into the costs of construction in the UK, which identified weakness in the UK’s approach in several areas that if addressed could lower delivery costs and unlock benefits of £2-3 billion per annum.
However the leading engineering body urges Government to use the Budget to translate its policies into detailed actions that pave the way for infrastructure to become the economic driver it promises.
This includes ensuring that there is unambiguous political accountability for the delivery of both the Government’s promised actions and the actual development of infrastructure on the ground. More detail is also required on the structure of the Green Investment Bank, which ICE believes should not be downgraded to a fund. It also calls for the delivery with industry of a robust plan for implementing the actions set out in the Infrastructure Costs Review and the publication of a 2nd, more detailed edition of the NIP setting out long-term investment needs and priorities for UK infrastructure, along with the actions to deliver them.
For more details please see ICE's budget submission