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| MPs cast doubts on £310bn rail infrastructure plan | MPs cast doubts on £310bn rail infrastructure plan |
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| MPs have warned that the government's £310bn plan for boosting the UK's infrastructure is shrouded in doubts about funding and could impose a burden on taxpayers through higher rail fares and utility bills. | MPs have warned that the government's £310bn plan for boosting the UK's infrastructure is shrouded in doubts about funding and could impose a burden on taxpayers through higher rail fares and utility bills. |
| The public accounts committee said the Treasury had not properly prioritised 200 key projects, and urged ministers to be "realistic" about how much private and public investment can be raised as the economy stalls. | The public accounts committee said the Treasury had not properly prioritised 200 key projects, and urged ministers to be "realistic" about how much private and public investment can be raised as the economy stalls. |
| The criticism came in a report into the National Infrastructure Plan, which was launched in 2010 and last updated in December. It listed projects costing a total of £310bn – with about £200bn to be wholly funded by the private sector. | The criticism came in a report into the National Infrastructure Plan, which was launched in 2010 and last updated in December. It listed projects costing a total of £310bn – with about £200bn to be wholly funded by the private sector. |
| The committee stressed that investment in power generation, roads, railways, airports, ports and communication systems – including the High Speed Two rail route and electricity smart meters – is "crucial for stimulating economic growth". | The committee stressed that investment in power generation, roads, railways, airports, ports and communication systems – including the High Speed Two rail route and electricity smart meters – is "crucial for stimulating economic growth". |
| The report warned: "We are not convinced that a plan requiring £310bn of investment in infrastructure is credible given the current economic climate, the cutbacks in public finances and the difficulty in raising private finance for projects on acceptable terms." | The report warned: "We are not convinced that a plan requiring £310bn of investment in infrastructure is credible given the current economic climate, the cutbacks in public finances and the difficulty in raising private finance for projects on acceptable terms." |
| The Treasury says it has prioritised 40 programmes, including the Crossrail project and the Broadband UK scheme, but many of those cover broad areas and there are 200 individual projects "whose relative priority is not clear", according to the committee. | The Treasury says it has prioritised 40 programmes, including the Crossrail project and the Broadband UK scheme, but many of those cover broad areas and there are 200 individual projects "whose relative priority is not clear", according to the committee. |
| The Treasury said: "We do not agree with the committee's depiction of the government's infrastructure delivery plans. Planning and delivering vital long-term infrastructure is a central economic priority." | The Treasury said: "We do not agree with the committee's depiction of the government's infrastructure delivery plans. Planning and delivering vital long-term infrastructure is a central economic priority." |
| It added: "As well as switching billions of pounds from current to capital spending, we are also using the government's balance sheet to provide vital funding." | It added: "As well as switching billions of pounds from current to capital spending, we are also using the government's balance sheet to provide vital funding." |
| John Cridland, director general of the Confederation of British Industry, said: "I have a queue of businesses at my door telling me delivery of the government's infrastructure plan needs speeding up. The new guarantees scheme has so far only managed to deliver two projects. More are in the pipeline but we need them delivered." | John Cridland, director general of the Confederation of British Industry, said: "I have a queue of businesses at my door telling me delivery of the government's infrastructure plan needs speeding up. The new guarantees scheme has so far only managed to deliver two projects. More are in the pipeline but we need them delivered." |
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