A new plan has been published outlining the government’s infrastructure priorities for the next five years…
The National Infrastructure Delivery Plan has laid out the government’s priorities for housing, regeneration, and infrastructure over the next five years.
Infrastructure development remains a key priority for the government, and was a major component of both the Autumn Statement in November and the Budget last week.
The government has committed investment of over £100bn to deliver a series of major infrastructure projects by 2020-21. The private sector will also add its own investment to the pot.
The plan highlights the latest version of the National infrastructure Pipeline, which includes £425bn worth of planned investment for over 600 projects. A further £58bn will be set aside for housing, regeneration, education, health, and justice.
Some of the funding will be used to develop northern infrastructure and to continue building upon the Chancellor’s plans for a Northern Powerhouse.
Commercial Secretary to the Treasury Lord O’Neill said: “From more modern transport links, to faster broadband, better infrastructure is at the heart of our plans to build a more productive economy and improve people’s everyday lives.
“That is why we are stepping up with the private sector to invest in some of this country’s most ambitious projects to create a more secure future for the next generation.
“This government is determined, even at a time of global uncertainty, to invest in the long-term projects that will make our economy and our country fit for the future.”
The report covers a number of areas including some £483bn investment in economic and social infrastructure—£425bn of which will be spent on economic infrastructure, and £58bn on social infrastructure.
The plan sets out major road and rail investment packages for the year ahead. This comprises of £15bn, which will go to Highways England to develop the Strategic Road Network. It is expected over 100 schemes will be completed or in the process of construction by 2020-21.
Energy projects will also gain a boon, with over £100bn set to be invested by the private sector for projects such as energy generation, while digital infrastructure will also be developed. The government plans to roll out an improved broadband and mobile network.
Additionally, the report also covers the establishment of the Infrastructure and Projects Authority. Working alongside the National Infrastructure Commission, the two will collaborate to ensure the government makes good decisions on future infrastructure projects.
Figures show annual infrastructure investment, both private and public contributions, rose by 17 per cent in real terms during the last parliament.
