The government has today published a new National Infrastructure and Construction Pipeline, setting out over £500bn worth of planned private and public investment over this Parliament and beyond.
The pipeline, which is being published by the government’s Infrastructure and Projects Authority, is up £37bn compared to the March document and includes 20 new schemes, including the Oxford to Cambridge Expressway.
The pipeline will help deliver important local projects across the country, including transport, broadband, flood defence, and housing.
It contains:
- More than £500bn of planned investment, with more than £300bn of this to be invested by 2020/21;
- More than 720 projects and programmes across transport, housing and digital to fire up the nation’s infrastructure.
The pipeline includes major projects such as the Thames Tideway Tunnel, the rollout of smart meters, and upgrading the A14. The idea behind the pipeline is that it provides a single source of data for both government and the private sector, giving greater certainty for investors and suppliers.
The government claims that today’s pipeline is the largest and most comprehensive ever. However, it relies on private finance to make up more than half of the pipeline to 2020/21.
Autumn 2016 National Infrastructure and Construction Pipeline (constant 2015/16 prices)
The publication of the pipeline comes hot on the heels of the chancellor’s Autumn Statement announcement of the new £23bn National Productivity Investment Fund.
This new fund includes infrastructure investments of more than £2.6bn to improve transport networks; a multi-million pound package to accelerate the future of broadband; and £7.2bn to support the construction of new homes.
The government has also today published a new funding and finance supplement to help attract further private sector investment into some of the UK’s most important infrastructure projects.
Chief executive of the Infrastructure and Projects Authority (IPA), Tony Meggs, said: “Creating the IPA has enabled us to produce a more comprehensive pipeline. Having the visibility and certainty of a pipeline of construction and infrastructure investment allows industry to invest strategically for the market, not just tactically for the project.
“We will continue this comprehensive approach, working with industry to deliver the pipeline. It is an important step in the IPA’s mission to deliver important infrastructure projects successfully, so we can raise people’s living standards, boost our productivity and grow our economy.”
Alasdair Reisner, chief executive of the Civil Engineering Contractors Association (CECA), added: “If the UK infrastructure sector is to plan for the investment in skills and innovation that will be required to deliver world-class infrastructure in the coming years, it is vital that companies are able to strategically allocate funding on a basis of projected need.
“The pipeline is a crucial tool that enables companies to plan ahead and deliver optimal outcomes for clients, taxpayers, and communities.”
Nick Baveystock, director general of the Institution of Civil Engineers (ICE), said: “Infrastructure services enable balanced economic growth and thriving communities.
“This updated National Infrastructure and Construction Pipeline sets out the value of infrastructure to the economy and provides long term visibility to industry.
“ICE welcomes the government’s commitment to infrastructure delivery and a more strategic approach to addressing the UK’s infrastructure needs.”
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