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The Association for Consultancy and Engineering (ACE) calls for a new way of measuring and understanding the UK’s infrastructure networks and future investment requirements. Infrastructure provision is too important an issue not to have a fully informed account of where we are and where we need to be. To make this work, ACE is proposing a National Infrastructure Account (NIA).
The UK faces a severe infrastructure crunch. At present there is not an official statistical account of the state of the UK’s infrastructure (as there is for instance for trade in goods and services). As infrastructure investment is fundamental to future economic growth, we need an understanding of our current infrastructure base in order to direct future investment in our transport, energy and social networks.
Nelson Ogunshakin, ACE chief executive, said: "An infrastructure account is especially helpful during an economic downturn but will prove be a useful tool for policymakers at any time. Keeping an account of the UK's infrastructure will mean that the national policy conversation will be better informed and lead to the right decisions being made for the long-term."
A national infrastructure account would provide the statistical base to inform a high level blueprint for future capital expenditure in the same way that a company uses its balance sheet to understand its performance and how and where it needs to invest to maximise yield and value. The data collected would then enhance the government, industry and publics’ comprehension of the infrastructure gaps that hinder economic activity.
Nelson Ogunshakin added: "ACE will be taking this idea to government and the opposition parties. We believe this is a policy instrument that should cross-party support."
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For press information please contact Simon Goldie on 020 7227 1892 or 07905 279328 – sgoldie@acenet.co.uk
Notes for editors
To read the full paper on the infrastructure account, please click on this link.
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