ICE’s Autumn Budget 2018 submission

ICE’s Budget representation sets out a series of recommendations to improve the delivery and operation of infrastructure in the UK.

The recommendations are focused in the following three areas:

Funding and financing

  • The feasibility of establishing a UK Investment Bank should be explored as a contingency against a loss of access to low cost anchor finance from the European Investment Bank and to maintain domestic expertise in infrastructure investment.
  • Active steps should be taken to facilitate the use of alternative funding and financing mechanisms, including asset recycling and land value capture.
  • The Government should give serious consideration to replacing the existing generation of road taxes with a pay-as-you-go model for the busiest roads in England.
  • Market-led proposals in rail should be reformed in a way which simplifies applications and respects the sharing of intellectual property from all bidders.

Infrastructure delivery

  • The National Infrastructure Commission should be placed on a statutory footing in the long-term to ensure its permanence and enhance its ability to give independent expert advice.
  • Embed Project 13 in Whitehall procurement culture, exploring ways to incentivise departments and Government agencies who are first movers.

Devolution

  • Devolve further revenue raising powers to Combined Authorities to increase their aptitude to fund infrastructure schemes.
  • The regulation of community level crowdfunding should be reviewed and its development supported.

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