National infrastructure plan 2011

Book excerpt: This National Infrastructure Plan sets out the strategy for meeting the infrastructure needs of the UK economy. There are three elements to this strategy. First, the Government will plan for the medium term and across sectors. The Plan brings together a comprehensive cross-sectoral analysis of the UK's infrastructure networks and sets out a clear pipeline of over 500 infrastructure projects. Delivering these projects will ensure that the overall performance of the UK's infrastructure is maintained and improved over time. Second, to mobilise the finance required to deliver these projects, the Plan sets out a new approach to coordinating public and private investment in UK infrastructure. Funded through further reductions in current spending, additional investment in infrastructure is being announced. The Government will act to facilitate the private investment that will finance the majority of the UK's infrastructure. This includes bringing in new investors into UK infrastructure; introducing new sources of revenue such as tolling; allowing local authorities more flexibility in the way they use local receipts to fund major infrastructure in specific circumstances; and being willing to consider guarantees against specific risks that the market cannot bear. Third, the Government will take an active role in ensuring the infrastructure in the Plan is delivered efficiently and on time, with priority given to those projects most critical for economic growth. The Government is also reforming the planning and consenting systems to tackle these sources of cost and delay in infrastructure delivery.