The Plan sets out in detail how the government will support the delivery of key infrastructure projects and programmes. It is published alongside is the National Infrastructure Pipeline, a document presenting a forward-looking assessment of the planned investment in UK economic infrastructure, containing over 600 projects and programmes across the UK.
The Government has also today published a new Construction Strategy that commits to reducing the cost of projects by £1.7 billion during this Parliament through the use of innovation and efficiency.
A summary of key headlines and ICE’s comment (which are included in HMT’s press release) is provided below. A more detailed briefing on the sector related announcements – and where ICE’s recommendations have been met - is attached.
Key headlines
- Public capital investment of over £100 billion committed to 2020-21.
- The total pipeline comes to £425 billion investment in over 600 infrastructure projects and programmes.
- £297 billion of this will be spent on projects and programmes to 2020-21.
- 50% of the Pipeline will be delivered through private investment.
- Pipeline now includes large-scale housing and regeneration projects alongside key social infrastructure (schools, hospitals and prisons).
- The NIDP will report annually on progress, starting in 2017.
- Future NIDP documents will also articulate and report on how the government is taking forward recommendations arising from the National Infrastructure Assessment, which the Commission will produce once every 5 years.
- Priority investments are selected based on the following criteria:
- they are nationally significant and deliver substantial new or replacement infrastructure of enhanced quality, sustainability and capacity;
- they have the potential to drive economic growth or unlock significant private investment;
- they make a significant contribution to the government’s strategic objectives.
- The IPA intends to help improve the delivery and performance of infrastructure projects by improving project appraisal and selection, providing project support and assurance and prioritising interdependence and resilience.
ICE comment on the NIDP
“The National Infrastructure Plan has evolved steadily since 2010, and this new iteration of the plan and pipeline builds on the progress made, improving visibility for the supply chain and investor community. The shift in focus to delivery over 5 years sets a fresh tone – one of ‘spades in the ground’ - and we welcome the recognition that this must be complemented by a vision for the longer term. This brings to the fore the role of the National Infrastructure Commission in setting out the UK’s priorities up to 2050, and the importance of a robust needs assessment to underpin the vision.”
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