High-quality infrastructure, especially transport, is a critical component of strong economic performance. Yet the UK has under-invested in infrastructure for decades, especially in its major cities. The Government has started to turn this around, but Britain’s cities still face a major ‘infrastructure gap’.
This All-Party Urban Development Group report argues that:
• We need to find innovative and effective new ways to draw private sector finance into urban infrastructure projects; and
• Substantial devolution is required – so that city leaders can invest in local infrastructure, capture the resulting benefits, and create a ‘virtuous circle’ of development and economic growth.
The report is based on the findings of an inquiry session held in the House of Commons on 20th November 2006, as well as written evidence submissions and desk-based research.