CIHT welcome the Government's announcement that it will underwrite up to £40bn of investment in infrastructure. The Government has acknowledged the need to try to kick start the stalled infrastructure projects that have been outlined in the National Infrastructure Plan.
Government hopes that its investment plan will help to unlock the £250billion required to renew the UK’s national infrastructure. The Government has accepted the role that it must play in underwriting infrastructure projects to make them attractive to private sector investment.
Sue Percy CIHT said:
“Whilst we welcome this announcement, the UK government must ensure that any associated qualifying criteria does not stifle investment. CIHT understands the Government's desire to obtain guarantees on projects, but we are concerned that the final test may be a hard standard to achieve.
The way the UK funds and delivers new infrastructure projects needs to change to ensure that the UK is able to compete globally. Alternative funding models must satisfy the need for short, medium and longer term projects. CIHT believes that a cross-party group must be established to develop and provide the certainty of a 20 year strategy for transport infrastructure across the UK.
CIHT welcomes this decision by Government and calls on it to continue pushing towards the £250bn infrastructure funding announcement put forward in the National Infrastructure Plan 2011."
Notes for editors
Chartered Institution of Highways & Transportation
CIHT is a membership organisation representing over 12,000 people who work in the highways and transportation sector.
CIHT members plan, design, build, operate and maintain best-in-class transport systems and infrastructure, whilst respecting the imperatives of improving safety, ensuring economic competitiveness and minimising environmental impact.
CIHT supports its member’s professional endeavours by:
• offering training, information, professional development and support
• promoting the value added to society by the profession
• being the focused voice to Governments and other decision makers on transportation expertise and knowledge.
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