Backing for the Northern Line extension and junction improvements on the M25 announced by the Chancellor of the Exchequer in his Autumn Statement today have been welcomed by the Institution of Civil Engineers (ICE) London region.
Director of ICE London, Miranda Housden, said: “The decision to provide a UK Guarantee to underwrite the estimated £1 billion investment to extend the Northern Line of the London Underground to Battersea bring this major infrastructure project a step closer.
“The scheme will extend the line from Kennington to a new terminus at Battersea and a new station at Nine Elms opening up the area for development with a projected 16,000 new homes and up to 25,000 new jobs being created in this part of South West London.
“In addition the £150 million investment in improvement works at Junction 30 on the M25, close to the Dartford River Crossing, should see improvements for road users at this busy intersection with the A13.
“ICE London welcomes this investment in London’s infrastructure by the Chancellor and, especially when coupled with the investment announced by the Mayor of London earlier this week, believes that we will see not just short term gains for London’s economy during the construction work but will see long term benefits for the capital.
Institution of Civil Engineers (ICE) Director General, Nick Baveystock, said: “Clearly government has heeded the advice of many across the industry to increase capital expenditure on infrastructure and get ‘shovel ready’ road schemes moving – demonstrating to investors that the National Infrastructure Plan is leading to visible activity. The danger however, as with the £5bn capital boost announced this time last year, is that this will fail to materialise and breed further scepticism. The Highways Agency will have a crucial role to play here, accelerating the delivery of the schemes while still ensuring they deliver value for money.
“Progressing short term projects to stimulate jobs and growth is vital, but it is important to remember that the NIP was intended as a long term plan, with 70% of investment to come from the private sector. We’ve seen a raft of potentially useful initiatives to help facilitate that - around pensions, planning, guarantees, ownership and funding arrangements and we also now have a pipeline of future projects. We in the industry need to keep a close eye on how these initiatives are progressing and be ready to work with government to propose new ideas if they aren’t working.
“I’m therefore pleased that Paul Deighton’s first duty as a Treasury Minister will be to be produce an assessment of Whitehall’s ability to deliver infrastructure and look forward to contributing to this review.”
ICE London has more than 8,000 members living and working in the city. More information can be found at www.ice.org.uk/London. You can follow ICE London on Twitter: @ICE_London