Infrastructure spending
The Annual Report on Major Projects 2021-22 provides an in-depth look at the investments in infrastructure throughout the United Kingdom. On that basis, this article shines a light on investments made in infrastructure by both public and private sectors, providing insight into which sectors are seeing a surge, where the largest investments are being made, and providing valuable insights to those working in the infrastructure sphere.
Where are the largest infrastructural investments being made?
The report indicates that over £600 billion of funding has been committed to major projects in the United Kingdom, with infrastructure (£339bn) taking up the largest portion. Let’s take a peek at some of these exciting developments:
The High Speed 2 Railway Project (HS2)
Britain’s High Speed 2 railway project is one of the largest infrastructure investments being made in Europe. This ambitious project seeks to construct a new high-speed rail line to connect London to the North-West, with HS2 trains stopping in Scotland, Manchester, Birmingham, and London. It is estimated that phase one costs between £35bn and £45bn and would support 28,000 jobs.
The Northern Powerhouse Rail (NPR)
The Northern Powerhouse Rail (NPR) project seeks to improve transport links between northern England’s major cities. By connecting cities such as Manchester, Liverpool, Sheffield and Leeds with improved connections across North Yorkshire, this project could boost economic growth and create thousands of jobs in areas that may have been left behind. The total cost of this project is estimated to be £43 billion.
The Thames Tideway Tunnel Project
London’s ageing sewer system has been struggling for years due to increasing levels of sewage caused by population growth. To address this issue, a multi-billion pound investment, known as the ‘Thames Tideway Tunnel’, has been proposed, which would construct a 25km tunnel beneath London to transport sewage away from residential areas into treatment plants outside of London. This ambitious project is expected to cost about £4 billion and create thousands of jobs during construction while helping to protect London’s environment.
Renewable Sources of Energy
The UK government is investing heavily in renewable sources of energy such as wind, solar, biomass and hydropower. This investment helps the UK meet its climate targets and reduce its reliance on fossil fuels for energy production.The UK government has also committed a £385m investment into advanced nuclear research and development. This funding will go towards developing a small modular reactor (SMR) and an advanced modular reactor (AMR). Ultimately, the UK has some of the best natural resources in Europe, which means that it is well-placed to capitalise on this to produce clean energy.
Lower Thames Crossing (LTC)
The UK’s transport infrastructure is undergoing a major facelift, and the Lower Thames Crossing (LTC) is set to be its biggest upgrade since the M25 was completed over 30 years ago. This proposed new expressway will almost double road capacity across the River Thames east of London, connecting Kent, Thurrock and Essex through twin-bored tunnels under the river. With promises of national and local economic growth, improved network resilience and enhanced performance of existing crossings at Dartford, this project could be a game-changer for how people move within the UK.
Which sectors are booming?
The transport sector has seen substantial gains in recent years due to increased investment into network upgrades and other improvements made by private companies and local authorities. The energy sector is also experiencing sustained growth, thanks mainly to the government’s commitment to decarbonisation goals by 2050. This has resulted in novel technology development to reduce the cost of deploying carbon capture, usage, and storage, Low-Cost Nuclear Programme, and Smart Metering Implementation Programme. So what does this mean for infrastructure specialists?
The changing infrastructure landscape and how it impacts professionals
The UK’s recent investments in infrastructure mean great opportunities for professionals within all industry sectors. Infrastructure specialists can now look forward to working on larger-scale projects that require diverse skill sets, such as engineering, infrastructure management, and project management. Moreover, access to better and more advanced technologies would allow specialists to produce more efficient results. As a result, they must stay up-to-date with the latest trends within the industry if they intend to remain competitive in their field. Ultimately, this report paints a very positive picture for those working in this field and those looking to get into it soon!There are plenty of exciting jobs available in the UK right now – and if you’re looking to make your mark in this sector, there’s no better time than now. We understand the importance of finding the perfect job. We want to ensure that you find a suitable role where you can use your skills and experience. So we’ll provide assistance and advice to help you discover a great position.
