Important projects may be cut if efficiencies are not found, consultant claims

Dramatic cost increases could jeopardise the UK鈥檚 infrastructure project pipeline, with inflation set to add an additional 拢84bn to the bill.

According to consultant Currie & Brown, the total cost of the country鈥檚 national infrastructure pipeline will reach 拢438bn by 2026, 20% of which would be the direct result of inflation.

Its report warns that important projects could be cancelled or delayed if preventative measures are not taken to improve efficiency.

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Source: HM Treasury

Chancellor Jeremy Hunt visiting the HS2 project last autumn. The government is still yet to publish its latest national infrastructure and construction pipeline

Nick Gray, chief operating officer for Currie & Brown in the UK and Europe, said the country needed to 鈥渦rgently change the way we approach infrastructure investment鈥� if projects are to be successfully delivered.

鈥淎 business-as-usual approach is simply not feasible. We are calling on the government, local authorities and stakeholders to take immediate action,鈥� he said.

鈥淓arly and informed decision making will be critical to safeguarding the infrastructure pipeline, and Britain鈥檚 economic recovery.鈥�

The report was compiled using market perceptions evaluated through Currie & Brown鈥檚 tender price inflation index and figures from the National Infrastructure and Construction Pipeline 2021.

A new national infrastructure and construction pipeline had been due for release last November, but a series of reshuffles in Whitehall, along with the turmoil that followed the autumn mini-Budget, have meant it has been delayed.

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