The government has pledged to spend \u00a3725 billion in 10 years to boost infrastructure.<\/p>\n
As part of this commitment \u00a339 billion is going towards affordable housing, as the newly announced National Housing Bank will be capitalised with \u00a316 billion, on top of \u00a36billion of existing finance.<\/p>\n
Some \u00a39bn per year will also be spent per year on schools, hospitals, courts and prisons.<\/p>\n
Justin Young, chief executive of RICS, said: \u201cThe 10-year infrastructure strategy announced by the UK government is a timely announcement on the back of the new National Housing Bank announced earlier this week.<\/p>\n
\u201cIf we are to meet the 1.5 million housebuilding target the government set last year, we need the critical infrastructure \u2013 the roads, schools, hospitals and other social service buildings that go with it.<\/p>\n
\u201cIt is not enough to just build homes \u2013 we must build communities with them, and this starts with a clear, joined-up infrastructure strategy that incorporates long-term thinking and vision.<\/p>\n
\u201cThis new strategy sets the country on a considerably clearer path and represents a significant shift in how the government approaches infrastructure and industrial capacity. Importantly, it seeks to unlock development across the country while promoting sustainability and energy efficiency.<\/p>\n
\u201cOngoing skills and labour shortages stifle construction projects and investment in skills for new professionals and upskilling for industry veterans is another promising development.<\/p>\n<\/p>\n
\u201cConfidence is critical for the construction industry, and this strategy sets a powerful message of intent to meet the challenges of the next 10 years.\u201d<\/p>\n
The government said it has accepted all of the James Stewart Review\u2019s recommendations on HS2 when drawing up its investment plan, while it accused the previous administration of \u201cyears of underinvestment\u201d on public services.<\/p>\n
Caroline Compton-James, deputy chief executive at SCAPE, said: \u201cThe government\u2019s 10-year infrastructure strategy is a significant and welcome commitment to long-term and actionable investment in the UK\u2019s built environment.<\/p>\n
\u201cIt addresses the need for a more consistent, efficient and collaborative procurement process to boost investment in skills, strengthen supply chains and create high-quality jobs in the communities that need them most.\u201d<\/p>\n
Darren Zitren, head of infrastructure at Cluttons, said: \u201cThe government has recognised the critical role of digital infrastructure \u2013 the masts and cables needed to provide fixed-line and mobile connections \u2013 plays in delivering the services we all rely on, and its role in increasing productivity, which will boost economic growth.<\/p>\n
\u201cIn order to reinvigorate the UK economy, we need to stay one step ahead of the curve in terms of technological advances, and ensure we are globally competitive.<\/p>\n
\u201cCurrently the UK sits outside the top 40 countries for broadband and mobile download speeds in international rankings, but if today\u2019s announcements are implemented quickly the UK could start to climb these charts.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The government has pledged to spend \u00a3725 billion in 10 years to boost infrastructure. As part of this commitment \u00a339 billion is going towards affordable housing, as the newly announced National Housing Bank will be capitalised with \u00a316 billion, on top of \u00a36billion of existing finance. Some \u00a39bn per year will also be spent per […]<\/p>\n","protected":false},"author":1,"featured_media":679,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\n