How can the government provide certainty over its investment plans to promote growth?

The government’s plans for capital projects have repeatedly shifted over the last decade. Capital budgets have been cut, then boosted, and now retrenchment is planned again. And major capital projects, such as HS2, have been subject to revisions in budget and scope. The five-year national infrastructure delivery plan and the national infrastructure and construction pipeline only apply to some projects and are still subject to change. This makes it difficult for the construction sector to plan, which can increase government costs and mean its capital budgets do not go as far. So what are the benefits of, and barriers to, a longer-term and more stable project pipeline? This event explored those key questions from both the government’s and industry’s perspective. To explore these questions and more, our expert panel included: Sir John Armitt, Chairman of the National Infrastructure Commission Steve Beechey, Group Public Sector Director at Wates Bill Esterson MP, Shadow Minister for Business and Industry Urvashi Parashar, Chief Impact Officer and Chief Economist at the UK Infrastructure Bank The event was chaired by Olly Bartrum, Senior Economist at the Institute for Government. This event was kindly supported by Wates Group.