Investment in the UK road network is expected to slow to an annual growth rate of just 0.17% over the next decade, according to figures published on Friday by the accountancy firm PwC and research consultant Oxford Economics. But spending on rail infrastructure is likely to almost double by 2025, with growth rates of over 6% a year.

 

The analysis says that £3.15Bn was spent last year on the UK’s road network including bridges and tunnels. This figure is expected to grow modestly to £3.21Bn a year by 2025.

 

By comparison spending on railways, including stations, stood at £8.09Bn in 2014 and is expected to rise to nearly £15.5Bn a year over the decade. Overall the total transport infrastructure spend in the UK stood at £14.11Bn last year and is set to rise to nearly £24Bn by 2025.

 

PwC’s UK capital projects and infrastructure lead 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.” But, he added, there are concerns about whether the UK has sufficient skills in terms of design, engineering, construction and project management resources to deliver High Speed 2 and Network Rail’s electrification programme.

 

The report also looks at global transport infrastructure investment to 2025. It says that investment in transport infrastructure is projected to increase to an average annual rate of 5% around the world.

 

(Photo: Network Rail)