Infrastructure investment has the potential to stimulate economic growth, protect the environment and improve our quality of life. The need for infrastructure investment in the U.K. is critical to overcoming the challenges posed by climate change, urbanisation and demographic change, as well as meeting commitments on carbon neutrality.
In order to meet these challenges, the OECD has stated that global infrastructure spending will need to reach $71tn by 2030, which represents 3.5% of world annual GDP between 2007 and 2030. The fiscal envelope for public investment in UK infrastructure between 2020 and 2050 sits at approximately 1.2%. Any further investment is likely to come from the private sector.
With the U.K. Government’s announcement in October 2018 that it will no longer use the current model of Private Finance Initiative (PFI) to fund infrastructure, developing new and innovative models of private finance is essential to transforming the nation’s infrastructure.
This presentation will discuss emerging models of financing infrastructure, as well as the drivers for infrastructure investment in a Northern Ireland context and current challenges faced in the key sectors of transport, energy and water.
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