The Treasury is set to table a new Infrastructure (Financial Assistance) Bill, giving the green light to £40bn of construction projects by using the government's low interest rates to underwrite them.  The Chancellor also stated that to qualify, the projects must be nationally significant, ready to start construction within 12 months, financially credible and good value for taxpayers.

CIHT welcomes any announcement that supports the transportation sector by kick starting stalled infrastructure projects vital to the rebuilding of the nation’s economy, 
however we ask the Government to ensure that any associated qualifying criteria does not stifle any potential investment.

The Government is also proposing an Economy Bill which will seek to ease perceived restrictions on the planning system.  Whilst understanding the need for new housing, the CIHT would caution that any new legislation should not override the sustainability principles set out in the recently released NPPF, and questions the introduction of further planning legislation just 6 months after the establishment of a new planning framework, which was designed to streamline bureaucracy. 

The CIHT will wait to see the contents of both Bills before commenting further.