Autumn Statement - PwC Comments on infrastructure investment
Published at 14:48 PM on 23 November 2016
Commenting on today's Autumn Statement, Neil Broadhead, Head of UK Infrastructure, PwC said:
"The Chancellor’s commitment to allocate £1 billion to small “shovel-ready” schemes like local road improvements is a much-needed and welcome move. Today's statement recognises the need for a variety of projects going forward – not only a handful of high profile, multi-billion pound mega projects that will deliver benefits in years and decades to come, but also a plethora of smaller schemes dispersed around the country which can be completed and deliver benefits to the general public much more quickly. However, this represents only one stage on the UK’s long journey to achieve an infrastructure base fit for the 21st century.
"It’s clear that we now have an administration that’s serious about tackling the UK’s long-standing infrastructure challenges and recognises the link to increased productivity and economic growth. The creation of the National Infrastructure Commission and Infrastructure & Projects Authority point to a renewed readiness both to get to a firm grip on the nation’s infrastructure needs, and to ensure the wherewithal is in place to meet those needs effectively and efficiently. However, if the Government’s laudable ambitions for the UK’s infrastructure base are to be realised, the real hard work may be only just be beginning, particularly in respect of the skills agenda and creating a stable policy environment allowing those involved in infrastructure to invest for the future."
"It’s clear that we now have an administration that’s serious about tackling the UK’s long-standing infrastructure challenges and recognises the link to increased productivity and economic growth. The creation of the National Infrastructure Commission and Infrastructure & Projects Authority point to a renewed readiness both to get to a firm grip on the nation’s infrastructure needs, and to ensure the wherewithal is in place to meet those needs effectively and efficiently. However, if the Government’s laudable ambitions for the UK’s infrastructure base are to be realised, the real hard work may be only just be beginning, particularly in respect of the skills agenda and creating a stable policy environment allowing those involved in infrastructure to invest for the future."
ENDS
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