Can the UK remain a top destination for infrastructure investment?
How much will the resignation of Lord Adonis, Chairman of the government’s Infrastructure Commission, affect this year’s progression of new infrastructure projects? Should the debate about who pays for national infrastructure – private or public investors - be discussed more openly?
The Telegraph has reported that although the UK ‘remains as one of the top countries for investors… it is falling in the ranking as Brexit and political stability weigh (heavy).’
It quoted law firm CMS as saying that the UK could look to top placed Netherlands as an example of ‘’transparent and efficient procurement process and a healthy multi-billion euro pipeline in road and water Public-Private- Partnerships.’’
While in the USA, The Brookings Institution – a non-profit public policy organisation based in Washington – in its research report ‘If you build it: A guide to the economics of infrastructure investment’ argues that ‘because much of the nation’s infrastructure generates broadly shared benefits that are not limited to those who can pay, decisions about this infrastructure are an important public policy concern and not just a matter for private firms and investors.’
In the UK, the work on the construction of the £42 billion HS2 railway from London to the North is speeding up while an extra £540 million was announced in the 2017 Budget to boost Northern Ireland’s infrastructure.
Recently, an all-women team ‘VeloCity’ won the ideas competition set out by the National Infrastructure Commission to revitalise six villages and a network of cycling in the Cambridge-Milton Keynes –Oxford Corridor.
The team including Tibbalds Planning and Urban Design, Featherstone Young, Khaa, Marko and Placemakers, Mikhail Riches and Expedition Engineering, has looked at the development of the region over the course of 30 years.
It was reported by Dezeen that the team's plans, aim to ‘turn traditional planning policy on its head’ and encourage the NIC to recognise the importance of place-making.