01 / Introduction

Even though the outcome of the 2024 election was not determined by manifesto commitments on housebuilding or clean energy, in its aftermath the public will expect Labour to deliver a significant increase in infrastructure delivery.

From offshore wind to a further wave of new-town developments, growth promises cannot be delivered without shovels in the ground. Although current prospects for infrastructure investment remain uncertain, the UK faces decades of additional work as private sector investors direct capital into energy transition, expanded water and power networks and new communities.

Based on current requirements and its public investment mandate of 1.3% of GDP, the National Infrastructure Commission (NIC) forecasts that real-terms investment will peak at between £70bn and £80bn a year during the 2030s – massively up from the £55bn delivered on average each year over the past decade.

But the UK construction sector faces many challenges in raising its game. Our cities are some of the most expensive to build in the world – all sitting in the top 20 on a list of building costs, according to the Arcadis International Construction Cost Index.

Furthermore, the NIC has recently highlighted that crucial investments, including the transition to low carbon heat, are well behind programme and require acceleration.

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