The UK’s infrastructure system is set for a revitalisation following the establishment of a new watchdog as current projects will get a major overhaul.
The Government has announced the new National Infrastructure and Service Transformation Authority (NISTA) to reinstate growth and efficiency.
Speaking at the construction company Skanska’s headquarters, Chief Secretary to the Treasury Darren Jones outlined the government’s vision for the next decade of national renewal.
Mr Jones said: “This new body will get a grip on the delays to infrastructure delivery that have plagued our global reputation with investors. It will restore the confidence of businesses to invest and help break the cycle of low growth.”
The new authority will serve as a replacement to the National Infrastructure Commission (NIC) and the Infrastructure and Service Transformation Authority.
It is expected that the watchdog will play a vital role in streamlining infrastructure strategy and delivery, as well as bringing fresh management and direction to three major projects including HS2, TransPennine Route Upgrade and the Lower Thames Crossing, which carry a combined price tag of a whopping £87.1bn.
NISTA aims to address any previous challenges faced in the process of these building works, seeking resolution to problems that arose.
Ben Curtis from Campaign for Better Transport responded to Labour’s announcement of a new National Infrastructure and Service Transformation Authority, saying: “This is a very welcome decision, and we hope that this new body will revive the delivery of vital national infrastructure.
“To expand our public transport networks and get more people travelling sustainably, it is essential that the necessary infrastructure is built efficiently and cost-effectively.
“Spending on rail and bus infrastructure yields high returns in the wider economy, and we are hopeful that the announced ten-year national strategy will prioritise much-needed sustainable transport projects.”
A report released by the National Infrastructure Commission (NIC) shows that costs on major infrastructure projects had seen figures driven up by a combination of conflicting objectives within government, risk aversion and fragmentation within the industry.
The NIC also highlighted the staggering increases in the delay of decisions for national infrastructure by up to 65% since 2012.
The government’s 10 year infrastructure strategy, which is currently being developed, will outline its objectives and priorities for the nation’s infrastructure.