The ICE responds to a consultation from the UK government’s Department for Business and Trade.
The UK government has committed to creating a new industrial strategy.
Titled ‘Invest 2035’, it focuses on four central missions for the Labour government.
The proposed strategy aims to address economic and environmental challenges and prepare the UK for future opportunities.
The ICE responded to the consultation as an individual organisation and collectively as part of the National Engineering Policy Centre (NEPC).
The ICE’s submission focuses on the following areas:
Certainty is key to prevent a stop-start approach
The industrial strategy must address one of the biggest barriers to investment - lack of certain, stable policy.
A collaborative systems approach must underpin the industrial strategy
The best-designed industrial strategy won’t succeed without enough funds. This is an issue for the government, facing tight budget demands and spending limits.
A systems thinking approach, where government departments work closely with the Treasury around spending plans, will direct money to the right places.
Technologies have important growth potential
Adopting digital technologies in new infrastructure can ensure successful delivery of the industrial strategy and improve future resilience.
However, consistency is needed to prevent a temporary uplift that then fades away.
An industrial strategy cannot cover just one parliamentary term – it must look further ahead to support future infrastructure assets and the new government’s housing ambitions.
The current state of transport infrastructure in the UK is a barrier to investment
Clarity on the strategic role of transport will help change how investment decisions are made.
The focus would shift focus from economics and the benefit-cost ratio (BCR) to wider social benefits.
The ICE has called for a national transport strategy to provide a clear vision and set principles for sustainable road and rail development.
International partnerships can provide important support
Forums such as the ICE-convened Enabling Better Infrastructure (EBI) programme could play an important role.
The programme supports countries with the strategic planning and prioritisation of infrastructure and shares international best practice.
As an existing forum, EBI could be a useful resource for the Department for Business and Trade. It could help in connecting UK organisations across the infrastructure sector with international counterparts.
Transparency is key
Transparency can influence investment decisions, particularly relating to procurement and where spending is directed.
The government should strengthen the requirement for public authorities to disclose details of the subsidies they award on a national database, as part of the UK’s Subsidy Control Act 2022.
ICE response to Invest 2035: the UK’s modern industrial strategy
Content type: Policy
Last updated: 27 November 2024
You may also be interested in
- Type
- Infrastructure blog
6 takeaways from the UK government’s 2025 Spending Review
Will longer-term planning support better infrastructure delivery? The ICE analyses the UK's first multi-year Spending Review since 2021.
- Type
- Infrastructure blog
How can the UK's National Wealth Fund succeed?
The fund can support growth and net zero, writes Richard Threlfall – but only if it’s supported to take on risk.
- Type
- Infrastructure blog
Why can climate resilience efforts fall through the cracks?
Without strong leadership, clear roles and joined-up planning, governments may fail to adapt to climate change. A new insights paper explores how governments can build climate resilient infrastructure.