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15/09/2021

£650bn investment into infrastructure pipeline

Words: Laura Edgar
Money / iStock-185267728

The government has forecast £650 billion public and private sector investment in infrastrcuture over the next ten years in its latest National Infrastructure and Construction Procurement Pipeline, published this week.

The pipeline has been published alongside an infrastructure Roadmap to 2030, which says the predicted investment would create new opportunities for "thousands" of apprentices, technicians, graduates and skilled workers, including supporting 425,000 jobs a year over the next four years.

The government has also published an update to its Plan for Jobs, launched last year, which reports that more than £350 billion of support has been invested in employment since the beginning of the Covid-19 pandemic. The update says that "work is the best way out of poverty", giving families financial security, which is why jobs continue to be the government's "highest economic priority".

Prime Minister Boris Johnson said: "From entry level roles and post university careers, we’re creating the jobs this country needs to build back better following the pandemic.

"Business confidence is growing and thanks to the action we’ve taken we’re expected to see two million fewer people out of work.

"We are investing in our Plan for Jobs because supporting people into work, ensuring they get the skills they need to get good jobs and helping businesses fill their vacancies is the best way to get the economy moving."

Chancellor Rishi Sunak added: "We put a plan in place to protect jobs and businesses in their hour of need and I am immensely proud to say that it is working.

"The announcement of 425,000 jobs supported per year over the next four years shows that we are sticking to that plan as we level up opportunities across the country.

"But this isn’t just about numbers – our Plan for Jobs is also about giving people the hope and opportunity to meet their potential as we emerge from the pandemic and the economy recovers."

One of the areas that will be focused on in the pipeline is place-based regeneration. Transforming Infrastructure Performance: Roadmap to 2030 states that the vision for 2030 is: "A holistic and data-enabled understanding of place and space, bringing together robust and accessible data on the local population, economy and environment, with insights and priorities from local stakeholders, to create the foundation for better decision-making and more impactful interventions."

Other focus areas include addressing the need for social infrastructure.

Transforming Infrastructure Performance: Roadmap to 2030 can be found on the UK Government website (pdf).

Image credit | iStock

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