The UK government has announced its comprehensive Year Infrastructure Strategy will be released in June and has provided more detail on the principles, objectives and approach behind it. The government says this strategy seeks to address persistent uncertainties that have historically hindered investment in infrastructure programmes and supply chains, subsequently raising consumer costs.
A key aspect of the Strategy involves a structured institutional framework that delineates how various public financial institutions, such as the National Wealth Fund, will play a role in its execution. Moreover, the initiative seeks to complement other strategies, including the existing Industrial Strategy, highlighting a unified approach to development. Supportive infrastructure investment is expected to unlock barriers preventing this ambitious housing target from being achieved.
Additionally, the Clean Power Action Plan sets forth the necessary infrastructure alterations required to meet the Clean Power objectives as part of the push towards net zero emissions. In tandem with housing and clean energy initiatives, the Strategy outlines significant investments in social infrastructure. However, challenges persist. To tackle these issues, the government has initiated legislative efforts through the Planning and Infrastructure Bill, aimed at addressing delays within the planning system.
It has also said the Bill will reduce the possibility of legal challenges holding up new infrastructure construction. The government is determined to provide a stable policy climate moving forward, having recognised the detrimental effects of past interruptions in the infrastructure pipeline. Previous strategies, such as the National Infrastructure Strategy, faced setbacks, including the cancellation of significant projects like HS2 phase 2, which eroded investor confidence.
The Year Infrastructure Strategy will serve not only as a roadmap for core economic infrastructure — including transport, energy, water, flood risk management, digital, and waste — but also as an integrated framework that encapsulates housing and essential social infrastructure.
