The Institute of Directors welcomes the opportunity to respond to the NIC’s call for evidence on the National Infrastructure Assessment.
With a growing national debt and a persistent budget deficit, combined with a fast growing population, the IoD is mindful of the need to prioritise carefully selected infrastructure investment with limited resources.
Infrastructure investments are not all equal and necessarily a net public good. All too often, the infrastructure policy environment is dominated by a wish list of large construction, engineering and blue chip consultancy industries. The mantra is that spending on infrastructure is always good, but how do we know that? We call our approach Frugal Infrastructure. We advocate it as a methodology to shape the National Infrastructure Assessment based around an Infrastructure Best Value Index to size up projects against one another and where necessary, say no.
In the response linked below, we have outlined in some more detail how this could work and have answered a number of the questions.
Read the response here