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British infrastructure policy and the gradual return of the state

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  • Dieter Helm

Abstract

The state of British infrastructure is the source of almost continuous study and criticism. There is now a host of new demands in water, energy, transport and communications which require a step change in investment. The Coalition government has made a series of reforms—to planning, finance, and the setting of priorities—which have been drawn together in National Infrastructure Plan statements. A number of high-profile and large-scale projects have been advanced. This paper sets out the evolution of these policy interventions and explains why government involvement is critical to their success. It documents the gradual return of the state, as part of a process of underpinning the investment costs, in the provision of credible contracts, and in closing the gap between public and private costs of capital. It suggests that rather than pursue infrastructure policy as a set of priority projects, greater use of regulated asset bases and attention to the time-inconsistency problem would better achieve the overarching objectives. Copyright 2013, Oxford University Press.

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  • Dieter Helm, 2013. "British infrastructure policy and the gradual return of the state," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 29(2), pages 287-306, SUMMER.
    • Handle: RePEc:oup:oxford:v:29:y:2013:i:2:p:287-306
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    File URL: http://hdl.handle.net/10.1093/oxrep/grt018
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    Citations

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    Cited by:

    1. Inderst, Georg, 2017. "UK Infrastructure Investment and Finance from a European and Global Perspective," MPRA Paper 79621, University Library of Munich, Germany.
    2. Lodge, Martin & Stern, Jon, 2014. "British utility regulation: Consolidation, existential angst, or fiasco?," Utilities Policy, Elsevier, vol. 31(C), pages 146-151.
    3. Peter O’Brien & Andy Pike, 2019. "‘Deal or no deal?’ Governing urban infrastructure funding and financing in the UK City Deals," Urban Studies, Urban Studies Journal Limited, vol. 56(7), pages 1448-1476, May.
    4. Pia Andres & Giorgia Cecchinato & Penny Mealy & Charlotte Taylor & Sam Unsworth & Anna Valero, 2020. "Jobs for a strong and sustainable recovery from Covid-19," CEP Covid-19 Analyses cepcovid-19-010, Centre for Economic Performance, LSE.
    5. Bolt, Chris, 2014. "UK experience of utility regulation since 2003 and outlook," Utilities Policy, Elsevier, vol. 31(C), pages 173-177.
    6. Stephen Hall & Andrew EG Jonas & Simon Shepherd & Zia Wadud, 2019. "The smart grid as commons: Exploring alternatives to infrastructure financialisation," Urban Studies, Urban Studies Journal Limited, vol. 56(7), pages 1386-1403, May.
    7. Colin Turner, 2018. "The governance of polycentric national infrastructure systems: Evidence from the UK National Infrastructure Plan," Environment and Planning C, , vol. 36(3), pages 513-529, May.
    8. Ronan Bolton & Timothy J Foxon & Stephen Hall, 2016. "Energy transitions and uncertainty: Creating low carbon investment opportunities in the UK electricity sector," Environment and Planning C, , vol. 34(8), pages 1387-1403, December.
    9. Hu, Wanjie & Dong, Jianjun & Hwang, Bon-Gang & Ren, Rui & Chen, Zhilong, 2022. "Is mass rapid transit applicable for deep integration of freight-passenger transport? A multi-perspective analysis from urban China," Transportation Research Part A: Policy and Practice, Elsevier, vol. 165(C), pages 490-510.

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