Transforming Infrastructure: Building Britain’s Future
Infrastructure is often cited as a key driver of economic growth, with improvements in infrastructure services and connections evidenced as having positive effects on productivity.
Conversely, according to the Office for National Statistics, the weakening of an economy’s infrastructure is likely to have a negative impact on productivity: raising the costs of production, reducing the efficiency of trading relationships and limiting market access.
The UK is currently host to some of the largest infrastructure projects underway in Europe, with HS2, Crossrail and Thames Tideway among the flagship developments in the sector. The UK Government has confirmed the huge push in projects across the sector with the publication of the National Infrastructure Pipeline evidencing some £600Bn of investment over some 700 projects in the next decade.
Our research, conducted in association with the UK Infrastructure Show, suggests that the majority of the construction and infrastructure sector agrees that infrastructure has been responsible for driving growth within the industry over the past 12 months, and hopes are pinned to the sector as a leading light for construction post-Brexit.
Brexit is the single biggest factor affecting infrastructure according to our research, with political uncertainty the overriding issue on everyone’s minds.
In this market report we explore the challenges presented to the industry by Brexit, as well as the pipeline and where investment is being focused. A Spend Analysis looks at the public and private investment in the various subsectors of the industry, while we assess the importance of each subsector to the development of the country.
The very first National Infrastructure Assessment was released by the National Infrastructure Commission in July 2018. The Assessment makes key recommendations on how the infrastructure needs and priorities of the country should be addressed. Almost one year on, we examine how the Assessment has been received by the industry and government, and which recommendations have been actioned.
This report examines some of the key themes in infrastructure today that have emerged from our own market research through the Infrastructure Survey and this year’s UK Infrastructure Show exhibition. Keynote speakers from the UKIS event have lent their insights, with comments from Phil Graham, Chief Executive of the National Infrastructure Commission; Matthew Vickerstaff, Interim CEO of the Infrastructure and Projects Authority; and Catherine de Marco, Deputy Director, Infrastructure Skills and Efficiency at the Department for Transport.
Download the full report now to find out how BIP Solutions can help you to access the huge opportunities within this £600Bn sector.