聽It is calling for more detailed action to follow up on the publication of the National Infrastructure Plan (NIP) last year.
The NIP set out how infrastructure could be a key driver of competitiveness and economic growth, by increasing private and public sector productivity. ICE says there have been significant steps towards achieving this, including the proposal for a Green Investment Bank, the creation of Infrastructure UK (IUK) within the Treasury and the formation of a group of ministers to ensure a smooth pipeline of projects and identify potential investment blockages. It also welcomes the IUK Infrastructure Costs Review into the costs of construction in the UK, which identified weakness in the UK鈥檚 approach in several areas that if addressed could lower delivery costs and unlock benefits of 拢2-3bn a year.
However the civil engineers want government to 鈥渦se the budget to translate its policies into detailed actions that pave the way for infrastructure to become the economic driver it promises鈥�.
They want more detail on the structure of the Green Investment Bank, which ICE believes should not be downgraded to a fund.聽ICE also wants a plan for implementing the actions set out in the Infrastructure Costs Review and the publication of a second, more detailed edition of the NIP setting out long-term plans.
ICE director general Tom Foulkessaid: 鈥淚nfrastructure forms a central plank of any strategy for growth in both the short and long term. Every 拢1 of investment in construction activity generates 拢2.84 of economic activity and 92p of every pound spent on construction is retained in the UK helping to boost the fragile recovery. New and upgraded infrastructure will also be central to longer term goals of improving the security of the UK鈥檚 energy supply and the transition to a low carbon economy.
鈥淏ut government must get started on the delivery and implementation of its plans in order to make real progress and create a political, regulatory and commercial environment that is conducive to high levels of private investment in infrastructure.
鈥淭his will mark the end of the 鈥榮top/start鈥� approach to infrastructure development 鈥� an approach which in previous decades has led to under investment in economic infrastructure, undermined skills development and innovation in the infrastructure supply chain, fuelled periodic bouts of construction inflation and seriously undermined investor confidence.鈥�
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