Infrastructure spend to increase, says PwC
UK transport infrastructure investment is projected to increase at an average annual rate of about 5% between 2014 and 2025, according to analysis by multinational professional services network, PricewaterhouseCoopers (PwC). Rail infrastructure and airports investment is expected to almost double by 2025, with growth rates of over 6% per annum respectively. Investment in sea ports is predicted to grow by 1.83% on average per year over the forecast period (compared with 5.8% growth in sea port investment worldwide), while road network investments are expected to slow down to an annual growth rate of 0.17%.
UK capital projects and infrastructure leader at PwC, Neil Broadhead, said, ‘Transport infrastructure investment growth in the UK will likely be moderate in the near future, given the already well developed transport network as well as continuing fiscal constraints and a high demand for more social infrastructure, especially in healthcare. However, rail investment in the UK is poised for growth with railways forecast to have strong growth. There is growing opinion in favour of public transport in the UK and high-speed networks are expected to undergo further development.’