Building the infrastructure

Britain's first infrastructure plan, which maps out the scale of the challenge and the investment needed to build sustainable growth in the UK, was published today. The National Infrastructure Plan, which was announced by the prime minister, sets out the government's intentions over the next few decades, including a £40bn investment, which was included in the spending review. Speaking at a conference in London, David Cameron said £200bn of investment would be used to deliver the plan."We will unlock some £200bn worth of public and private sector investment over the next five years to deliver it," he said. "This is incredibly exciting, and it shows how together we can help create the right framework for growth in which British business can thrive and compete with the rest of the world." He said that while the immediate challenge was to rebuild the economy, it would create conditions for enterprise to flourish based on an expansion of the private sector – a theme already signalled at during the spending review. The infrastructure plan includes: Investment in a low-carbon economy – including a green investment bank, up to £1bn for one of the world's first commercial scale carbon capture and storage demonstration projects, and the provision of grants to increase the uptake of electric vehicles. Providing superfast broadband by 2015 with an investment of £530m over the spending review period. £30bn to be invested in transport – including a high speed rail network and Crossrail and over £10bn for maintenance and investment in key road and local transport schemes. Funding of £14bn will also be made available to Network Rail to support maintenance and investment. Continuing support for the best scientific research to the tune of £4.6bn, and £220m of capital investment in the UK Centre for Medical Research and Innovation, and a further £69m for the Diamond Synchrotron, a cutting-edge scientific research facility in Oxfordshire. Lord Sassoon, the commercial secretary to the Treasury, said the plan showed investment in "bold and critical projects. "Today's plan represents a broad vision of the infrastructure investment we need to underpin the UK's growth and retain our competitiveness. "For the economy to flourish, people, goods and information must move freely. Reliable infrastructure: energy, water, transport, digital communications and waste disposal networks and facilities, are essential to achieve this. Ensuring these networks are integrated and resilient is vital. He added: "We recognise the scale of the challenge and the need to encourage new sources of private sector capital. We are targeting investment at a series of bold and critical projects that go to the heart of this vision and support a private sector-led recovery." An advisory council, Infrastructure UK, will be chaired by Paul Skinner, the former chair of Rio Tinto, and will provide guidance on strategic direction and work priorities.