22 Sep 2021
Government to spend £650bn on infrastructure by 2030
The UK government has pledged to spend £650bn on infrastructure schemes in the next decade, according to new plans announced last week.
The National Infrastructure and Construction Pipeline sets out how the government plans to spend £650bn of private and public investment over the next 10 years, with up to £31bn expected to go towards economic and social infrastructure projects in the current financial year, and over £200bn by 2024/25.
Transport schemes will get the biggest slice of the pie this year, with 132 procurements worth at least £14.8bn and up to £23.7bn across 19 projects.
Justice comes second, receiving up to £2.8bn of funding for 23 procurements across 10 projects, and education is third, with around £2.5bn going towards 165 projects.
Of the 2021/22 projects, construction work accounts for over two-thirds of the work opportunities, including civil engineering, building, and design and build. Another £800m to £1.1bn will go on architectural, engineering and design services, plus £2.9bn to £5bn for repair and maintenance services.
The government also published the Transforming Infrastructure Performance (TIP): Roadmap to 2030, which lays out its plan to maximise spending on the built environment and create more social value through infrastructure projects.
Alasdair Reisner, chief executive of the Civil Engineering Contractors Association, said the publications would boost confidence in the sector, and particularly welcomed the government’s plans to improve infrastructure delivery.
The IPA estimates that these new investments will support 425,000 jobs a year in the UK.