This study will focus on the initial set up and early stages of development of the UK Infrastructure Bank.
Both economic infrastructure (roads, rail, energy, water, communications) and social infrastructure (schools, hospitals, housing) provide services that are essential to daily life and economic success. HM Treasury's National Infrastructure Plan has identified over £450 billion of planned investment in economic infrastructure that is needed to replace ageing assets, help meet policy commitments, and meet our growing population’s needs, over the next decade and beyond. Infrastructure takes years to build, and is generally long-lived, requiring a long-term public policy perspective.
Infrastructure is ultimately funded through taxes or through consumer bills and charges. The finance, however, can be raised either publicly or privately, with varying combinations of public and private financing being possible. We have an extensive back catalogue of reports following the evolution of the Private Finance Initiative. More recently we have reported on new forms of finance (infrastructure guarantees, Thames Tideway Tunnel) and the choices available to government over whether to use public or private finance, as well as the impact of infrastructure investment on consumer bills and whether bills will be affordable.
Key NAO publications:
This report examines how well the government has used public money to support the uptake of ultra-low emission cars.
26 Feb 2021
This report evaluates whether government’s approach to managing the risks of flooding and coastal erosion is achieving value for money.
27 Nov 2020
This report examines lessons from our work on major programmes, including transport, defence and energy programmes.
20 Nov 2020
This report considers what the Superfast Broadband Programme has delivered and the lessons for government’s roll-out of nationwide gigabit broadband.
16 Oct 2020
This investigation sets out how MHCLG is overseeing the remediation of dangerous cladding under its Building Safety Programme.
19 Jun 2020
This report provides information on managing PFI contracts when they end and considers whether government is preparing for expiry appropriately.
5 Jun 2020
A briefing on the rationale, costs and benefits of the Private Finance Initiative; the use of and impact of PFI, and ability to make savings from operational contracts; and the introduction of PF2. There are currently over 700 operational PFI and PF2 deals, with a capital value of around £60 billion and annual charges for these deals amounted to £10.3 billion in 2016-17. Even if no new deals are entered into, future charges which continue until the 2040s amount to £199 billion.
18 January 2018
18 Jan 2018
This examines whether the Department for Business, Energy & Industrial Strategy has achieved the objectives of the UK Green Investment Bank intervention, and whether UK Government Investments has achieved value for money in the subsequent sale of the Bank.
12 Dec 2017
The Department has committed electricity consumers and taxpayers to a high cost and risky deal in a changing energy marketplace. We cannot say the Department has maximised the chances that it will achieve value for money.
23 Jun 2017