Government hails record £500bn infrastructure pipeline

The Government today claimed infrastructure spending will hit record levels in the next five years as it published an details of an expanded pipeline of projects worth more than £500bn.

Twenty more projects have been added to the National Infrastructure and Construction Pipeline since March 2016, including the Oxford to Cambridge Expressway.

The 728 project pipeline presumes over 50% will be funded by the private sector.

The latest update follows the Chancellor’s Autumn Statement unveiling a £23bn National Productivity Investment Fund.

This new fund includes extra infrastructure investments of over £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.

As a result today’s pipeline ranks as the largest ever, with private finance making up more than half of spending to 2020/21. More details of PF2 projects to make up the initial pipeline will be set out in early 2017.

Autumn 2016 National Infrastructure and Construction Pipeline
Sector	No. of projects	Total	2016/17	2017/18	2018/19	2019/20	2020/21	Post 2020/21
Communications	8	£15.4bn	£3,839m	£4,090m	£3,213m	£3,147m	£1,089m	£19m
CPS	2	£14m	£3m	£2m	£6m	£2m	£1m	£0m
Education	20	£22.5bn	£5,230m	£4,678m	£4,736m	£3,625m	£4,220m	£0m
Energy	114	£206bn	£16,754m	£19,050m	£17,659m	£11,964m	£13,197m	£127,640m
Flood Defence	29	£4bn	£535m	£560m	£572m	£513m	£541m	£1,418m
Health	32	£3bn	£1,250m	£881m	£438m	£172m	£144m	£57m
Home Office	6	£73m	£42m	£27m	£1m	£3m	£0m	£0m
Housing and Regeneration	18	£13bn	£886m	£2,114m	£3,106m	£3,238m	£3,572m	£0m
Justice	44	£1.5bn	£395m	£540m	£458m	£135m	£0m	£0m
Ministry of Defence	47	£8.4bn	£1,017m	£1,354m	£1,569m	£1,043m	£796m	£2,594m
Police Forces	29	£1.2bn	£268m	£295m	£298m	£247m	£130m	£17m
Science and Research	25	£6.2bn	£1,240m	£1,161m	£1,228m	£1,205m	£1,079m	£265m
Transport	251	£138bn	£18,059m	£17,794m	£17,439m	£18,760m	£19,877m	£46,402m
Utilities	96	£75bn	£11,767m	£13,389m	£13,409m	£12,598m	£8,049m	£15,600m
Waste	7	£0.5bn	£250m	£189m	£75m	£23m	£0m	£0m
Autumn Statement extra		£7bn						£7bn
Grand Total	728	£502bn	£61.5bn	£66bn	£64bn	£57bn	£53bn	£201bn

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 Secretary to the Treasury David Gauke said that £30obn of the planned £500bn would be spent by 2021.

“This record infrastructure pipeline is set to make a real difference to people’s lives from quicker and easier journeys, to better broadband access, and building more homes for people who need them in high demand areas.

It is clear proof that we are absolutely committed to ensure our infrastructure is fit for the future, which is at the heart of our ambitious plans to close the UK’s productivity gap and build a fair economy for everyone.

Alasdair Reisner, Chief Executive of the Civil Engineering Contractors Association, said: “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.

from Construction Enquirer http://www.constructionenquirer.com/2016/12/05/government-hails-record-500bn-infrastructure-pipeline/

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