ICE’s Autumn Budget 2018 submission

The recommendations are focused in the following three areas:

Funding and financing

• The feasibility of establishing a UK Investment Bank should be explored as a contingency against a loss of access to low cost anchor finance from the European Investment Bank and to maintain domestic expertise in infrastructure investment.
• Active steps should be taken to facilitate the use of alternative funding and financing mechanisms, including asset recycling and land value capture.
• The Government should give serious consideration to replacing the existing generation of road taxes with a pay-as-you-go model for the busiest roads in England.
• Market-led proposals in rail should be reformed in a way which simplifies applications and respects the sharing of intellectual property from all bidders.

Infrastructure delivery

• The National Infrastructure Commission should be placed on a statutory footing in the long-term to ensure its permanence and enhance its ability to give independent expert advice.
• Embed Project 13 in Whitehall procurement culture, exploring ways to incentivise departments and Government agencies who are first movers.

Devolution

• Devolve further revenue raising powers to Combined Authorities to increase their aptitude to fund infrastructure schemes.
• The regulation of community level crowdfunding should be reviewed and its development supported.