Menu
21/12/2010
Three Billion A Year Could Be Saved, Says Report
A Government report by Infrastructure UK (IUK) today sets out a blueprint to save up to three billion a year on building and maintaining infrastructure.
Treasury Ministers welcomed the plan saying it could promote growth by freeing up more money for infrastructure investment, as well as helping keep water, gas and electricity bill costs down for consumers by reducing costs for utility companies.
The report outlines how costs of building and maintaining energy, transport, waste and flood defence infrastructure projects can be reduced by at least 15%. With between £15 and £20 billion being spent each year, this equates to savings of between two and three billion a year - between £20 billion and £30 billion over the next decade.
The savings in delivery cost would be achieved by Government working with industry to improve procurement, raise productivity, simplify processes and promote innovation and better industry integration.
Chief Secretary to the Treasury, Danny Alexander said: "One look at projects like the Olympics, where over £600million has been saved, shows that the UK can deliver big infrastructure projects on time and within budget.
"We just have to make sure that the rest learn from the best. By working with industry we can identify ways to save money for them and the taxpayer. The data gathered through IUK's investigation has enabled us to identify savings of between £400 million and £800 million from the initial cost estimate for High Speed 2.
"Savings are in everyone's interests, as it will see the taxpayer get more value for money and will make the UK a cheaper place to do business, promoting growth in the long term."
Lord Sassoon, Commercial Secretary to the Treasury, said: "I am most grateful to Terry Hill and colleagues for their work in preparing this report. It is very significant that the construction industry has been an integral part of what is fundamentally a cost-cutting review. That is because they can see this work as helping to create a step change in the way infrastructure is delivered in the UK. This should lead to a stronger UK construction chain - and a UK construction industry that is even better placed to complete globally."
The report was welcomed by key industry players, including Richard Lambert, the CBI Director-General. He said: "Investment in infrastructure will be essential for economic recovery in the UK. This important report clearly sets out how waste can be reduced in the delivery of construction projects, allowing subsequent savings to therefore be reinvested."
The Government is working to finalise a prioritised programme for implementation to be announced by Budget 2011.
(BMcN/GK)
Treasury Ministers welcomed the plan saying it could promote growth by freeing up more money for infrastructure investment, as well as helping keep water, gas and electricity bill costs down for consumers by reducing costs for utility companies.
The report outlines how costs of building and maintaining energy, transport, waste and flood defence infrastructure projects can be reduced by at least 15%. With between £15 and £20 billion being spent each year, this equates to savings of between two and three billion a year - between £20 billion and £30 billion over the next decade.
The savings in delivery cost would be achieved by Government working with industry to improve procurement, raise productivity, simplify processes and promote innovation and better industry integration.
Chief Secretary to the Treasury, Danny Alexander said: "One look at projects like the Olympics, where over £600million has been saved, shows that the UK can deliver big infrastructure projects on time and within budget.
"We just have to make sure that the rest learn from the best. By working with industry we can identify ways to save money for them and the taxpayer. The data gathered through IUK's investigation has enabled us to identify savings of between £400 million and £800 million from the initial cost estimate for High Speed 2.
"Savings are in everyone's interests, as it will see the taxpayer get more value for money and will make the UK a cheaper place to do business, promoting growth in the long term."
Lord Sassoon, Commercial Secretary to the Treasury, said: "I am most grateful to Terry Hill and colleagues for their work in preparing this report. It is very significant that the construction industry has been an integral part of what is fundamentally a cost-cutting review. That is because they can see this work as helping to create a step change in the way infrastructure is delivered in the UK. This should lead to a stronger UK construction chain - and a UK construction industry that is even better placed to complete globally."
The report was welcomed by key industry players, including Richard Lambert, the CBI Director-General. He said: "Investment in infrastructure will be essential for economic recovery in the UK. This important report clearly sets out how waste can be reduced in the delivery of construction projects, allowing subsequent savings to therefore be reinvested."
The Government is working to finalise a prioritised programme for implementation to be announced by Budget 2011.
(BMcN/GK)
Related UK National News Stories
Click here for the latest headlines.
30 July 2014
Driverless Cars To Be Allowed On UK Roads Next Year
Driverless cars are to be allowed on public roads from next year as part of Chancellor George Osborne's National Infrastructure Plan. Previously the Department of Transport had pledged to trial driverless cars on public roads by the end of last year, but currently they can only be used on private roads.
Driverless Cars To Be Allowed On UK Roads Next Year
Driverless cars are to be allowed on public roads from next year as part of Chancellor George Osborne's National Infrastructure Plan. Previously the Department of Transport had pledged to trial driverless cars on public roads by the end of last year, but currently they can only be used on private roads.
14 May 2013
Possible Severn Trent Takeover News Drives Up Share Prices
A potential takeover bid has been made to Severn Trent, valuing the company at up to £5bn. The water company, which serves the water and sewerage needs of some 4.
Possible Severn Trent Takeover News Drives Up Share Prices
A potential takeover bid has been made to Severn Trent, valuing the company at up to £5bn. The water company, which serves the water and sewerage needs of some 4.
01 February 2013
Pinewood Submit Revised Expansion Plans Application
Pinewood Shepperton, a leading provider of services to the global film and television industry, has announced it has submitted a planning application to South Bucks District Council for the expansion of Pinewood Studios, called the Pinewood Studios Development Framework (PSDF).
Pinewood Submit Revised Expansion Plans Application
Pinewood Shepperton, a leading provider of services to the global film and television industry, has announced it has submitted a planning application to South Bucks District Council for the expansion of Pinewood Studios, called the Pinewood Studios Development Framework (PSDF).
11 January 2008
Regeneration Of London Key To 2012 Games: Livingstone
The success of the 2012 Olympic Games will be judged by the regeneration of East London, according to the Mayor of the city, Ken Livingstone. This week the Mayor published five "legacy commitments" that he is making to Londoners and by which he believes the ultimate success of London 2012 will be judged.
Regeneration Of London Key To 2012 Games: Livingstone
The success of the 2012 Olympic Games will be judged by the regeneration of East London, according to the Mayor of the city, Ken Livingstone. This week the Mayor published five "legacy commitments" that he is making to Londoners and by which he believes the ultimate success of London 2012 will be judged.
25 October 2010
Government Launches National Infrastructure Plan
The Prime Minister today announced the publication of the UK’s first ever infrastructure plan, identifying the scale of the infrastructure challenge and the major economic investment that is needed to underpin sustainable growth in the UK over the coming decades.
Government Launches National Infrastructure Plan
The Prime Minister today announced the publication of the UK’s first ever infrastructure plan, identifying the scale of the infrastructure challenge and the major economic investment that is needed to underpin sustainable growth in the UK over the coming decades.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
