ICE brought together representatives from the three main political parties, industry leaders and policy specialists this week, to discuss the future funding of UK infrastructure.
There is a wide consensus that the UK will need to invest heavily in infrastructure in the coming decades if we are to meet climate change targets, improve energy security and boost our economic performance.
However, there is debate and uncertainty amongst the political parties about where the funding for vital infrastructure projects will come from in the future.
The Infrastructure Funding Summit, hosted by ICE and sponsored by Bechtel and Local Partnerships, was attended by treasury minister Ian Pearson, shadow treasury minister Mark Hoban and Liberal Democrat treasury spokesman Vince Cable.
“This summit provided a much needed platform for a range of stakeholders.”
All delivered speeches and took questions from key industry figures. Policy specialists from a range of organisations including the ICE also took part in a debate on potential infrastructure funding solutions.
ICE director general Tom Foulkes said: “This summit provided a much needed platform for a range of stakeholders to debate some of the pressing issues surrounding infrastructure funding.
“We must find a way of ensuring that adequate long-term funding is available to develop our transport, energy, water and waste management networks − on a continuous basis and at an acceptable cost.”
The ICE has been calling for the creation of a national infrastructure investment bank or a similar funding mechanism to attract the large volumes of private capital which will be needed to fund future essential infrastructure investment across the country.