ICE representation to HM Treasury on Spring Budget 2024

This representation to HM Treasury on the UK’s 2024 Spring Budget sets out the ICE’s views on what priorities should be considered.

It makes the following key points:

On infrastructure spending

The government’s decision at last year’s fiscal events to maintain capital budgets in cash terms from 2025/26 effectively means a cut in infrastructure spending due to the ongoing impact of inflation.

The ICE urges HM Treasury to provide details on the forthcoming spending review in order to reduce uncertainty about whether the UK’s infrastructure ambitions will be met.

On infrastructure planning and prioritisation

The ICE recommends that the budget commits to a review, in partnership with local leaders, of rail schemes in the North and Midlands to ensure that the strategic gap that has been left by the cancellation of the northern leg of HS2 will be filled.

On decarbonisation

More focus is needed on public engagement and behavioural change in reducing overall demand and mitigating the risk of over-relying on technological pathways to net zero.

The government must outline its plans for public engagement and net zero. Particularly, as the Climate Change Committee has warned the UK is off track to meet its 2030 Nationally Determined Contributions and the sixth carbon budget.

On climate adaptation and resilience

The UK government should undertake a national review of the economics of adaptation, to ensure resilience and adaptation are better valued in spending decisions.

On transport

A national transport strategy for England should be developed to enable long-term planning and maximise the wider benefits of transport investment.