The rate of infrastructure investment is falling in most European countries, according to a new report from the Urban Land Institute (ULI).
The rate of infrastructure investment is falling in most European countries, according to a new report from the Urban Land Institute (ULI).
The report, entitled 'Infrastructure 2013: Global Priorities, Global Insights', claims that sluggish economic recovery and high levels of government debt have resulted in major infrastructure projects being targeted for cuts.
In France, the government’s limited capacity to fund major projects outright has led to cutbacks and project postponements and a greater reliance on public/private partnership (PPP) funding, according to the report.
In Spain, many road and rail projects have either been mothballed or scrapped completely, while in Italy austerity measures have led to delays in vital construction work, particularly in the south of the country.
Only the UK, Russia and Turkey are currently embarking on major infrastructure developments, according to the report. Major programmes in these countries include the UK’s National Infrastructure Plan (NIP) which has identified 550 projects totalling GBP 310 bn (€367 bn) for investment up to 2015 and beyond.
The report was produced in conjunction with Ernst & Young.
