11 April 2017

Governance, funding and finance for major infrastructure projects: bridging the gaps

Written by Regulatory Policy Institute - Price, Richard
11 April 2017

The report was created in the backdrop of the establishment of the UK National Infrastructure Commission (NIC), building on experience in Australia and elsewhere, with an aim to promote a better evidence-based discussion on the UK´s infrastructure needs and political choices, and to put infrastructure design and delivery on a surer footing. In this context, the report aims to identify the key funding and financing challenges across the infrastructure planning and delivery chain not just in the UK but globally.

The UK is embarking on a significant institutional reform to put long-term infrastructure planning on a firmer basis. The creation of the National Infrastructure Commission (NIC), building on experience in Australia and elsewhere, should help promote a better evidence-based discussion on the UK´s infrastructure needs and political choices, and to put infrastructure design and delivery on a surer footing. Interactions with the system of economic regulation need to be worked through, but the NIC will help governments to give a clearer statement of long-term policy within which regulators can operate and ensure projects are delivered efficiently.

Funding and financing challenges however have yet to be fully addressed across the infrastructure planning and delivery chain not just in the UK but globally. A number of initiatives are beginning to tackle this policy gap, and recent UK experience suggests ways in which projects can be brought to market in ways which secure private investment and secure the interests of consumers and taxpayers. There is a major opportunity to deliver better infrastructure efficiently if we can get this right.

Publication Date: 05.2016

Subscribe to newsletter