Commenting on the Prime Minister’s infrastructure speech at the Institution of Civil Engineers (ICE) HQ: ICE Director General, Nick Baveystock, said:
“It is encouraging to see further evidence of Government’s commitment to infrastructure forming a central plank of the plan for growth, and the acknowledgement that a more efficient planning system that builds confidence within industry is crucial to achieving this vision.
“Government also rightly acknowledges the importance of a sustainable energy supply, so steps to push through key projects and progress the nuclear new build programme are very welcome. But this must now be followed up with a robust energy market reform that will make investment in new low carbon supplies attractive to investors.
“The news that the first £2bn wave of funding from the pensions industry has been secured is a positive step. Government should now build on this progress and improve the credibility of its aspirations by publishing an assessment of the level of funding it believes it can realistically secure from the pensions industry and other categories of investors, and a programme of work that will unlock these funds.”
Commenting on the announcement of a feasibility study into securing greater private investment in roads, he added:
“To see Government take decisive steps to secure long term, targeted investment for the road networks as a whole, is refreshing. Our national road network is a valuable and essential asset that relies on continued investment to function. Government is right to investigate more radical funding models and consider how infrastructure investment might be better managed. This will be extremely important in ensuring potential investors get a predictable rate of return and we welcome Government’s imagination and ambition in tackling this.”
Read the Prime Minister's speech on infrastructure.
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For further information: Kate Ison, ICE Media Manager, 0207 665 2104, Kate.ison@ice.org.uk or Emily Beadon, ICE Media Manager, 0207 665 2261 emily.beadon@ice.org.uk
The Institution of Civil Engineers (ICE) is a leading source of professional expertise in transport, water supply and treatment, flood management, waste and energy. Established in 1818, it has over 80,000 members throughout the world including over 60,000 in the UK. ICE’s vision is to place civil engineering the heart of society, delivering sustainable development through knowledge, skills and professional expertise. The ICE has long worked with the government of the day to help it to achieve its objectives, and has worked with industry to ensure that construction and civil engineering remain major contributors to the UK economy.