Thursday, 19 October 2023

I Used To Be Indecisive but Now I Can't Make My Mind Up!

The current government set up its National Infrastructure Commission (NIC) to plan 'future proofing' of the UK's services. Roads, rail, water treatment, public buildings, communications etc. all have to be upgraded on a regular basis. This is needed, as technologies change, to ensure the country is efficient and is an attractive place for investment. Climate change, of course, makes such upgrades even more urgent. Some services will simply fail to function adequately with increasing incidences of 'extreme' weather. The NIC produced a detailed report, estimating the annual cost of infrastructure upgrades as £30bn of public money plus £40- 50bn from the private sector. Fiona Harvey feels that the proximity of the £30bn to the opposition's planned £28bn per annum to drive 'green' development, has resulted in government largely ignoring the NIC report (https://www.theguardian.com/business/2023/oct/18/the-30bn-question-will-tories-embrace-national-infrastructure-commission-report). Harvey notes that the UK government currently wants to cast doubts on the affordability of any 'green' developments. Infrastructure will, however, have to be upgraded. Delaying this process will only drive the final bills higher. It also makes the private sector less likely to invest. Climate change is not an inconvenience that can simply be ignored.

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