The UK is the most attractive country for infrastructure investment according to a new index, however National Infrastructure Commission chair Lord Adonis has warned a lack of strong project pipeline threatens its position.
The Infrastructure Index from law firm Nabarro has evaluated 25 countries in terms of tax environment, the availability of credit and economic stability, national stability, ease of doing business, level of private participation, and sustainability and innovation. The UK scored well in sustainability and innovation, but was behind in tax environment. It also said devolution was creating the right conditions for infrastructure investors.
Canada was ranked second place and the US was ranked third.
National Infrastructure Commission chairman Lord Adonis said: “It is great to see the UK doing so well in this year’s Index. It is a credit to the positive conditions for infrastructure investment created by the previous and current governments. However, it is paramount that the UK also identifies and secures a good pipeline for investors. Without it, the Nabarro Infrastructure Index shows that the US and Canada offer equally attractive conditions for infrastructure investment which could threaten the UK’s number one position.
“The National Infrastructure Commission has been established to ensure the UK remains an important and attractive market for infrastructure investment. It takes a long-term view of the country’s infrastructure needs as well as advising government and parliament on key priorities that will help to ensure we stay at the forefront of infrastructure delivery.”