KPMG on economic trends for infrastructure
Adam Mason of KPMG UK pictured above (with microphone) along with the borough heads of regeneration from Greenwich and Newham in the audience at the Cartridge Factory Royal Arsenal.
KPMG UK's Director of Infrastructure Strategy and Funding, Adam Mason joined our first panel discussion on "Airport and rail connectivity, smart infrastructure and urban regeneration" with Huw Lewis, Managing Director of BexleyCo, Liam McKay, Director of Corporate Affairs at London City Airport, and Professor Sadie Morgan of the National Infrastructure Commission, at our Future Cities Forum last week held in the Royal Arsenal, Woolwich.
Adam discussed how the £30 billion extra allocation in the recent budget was a short term measure, and he would not have expected more with next year's spending review due and being in the middle of Brexit negotiations. However the annual spend of up to 1.2 % of GDP, is in historical contexts a step up, and this reflects demographic changes, and increased urbanisation over the years. 'However a key issue is how you deploy infrastructure funding to drive housing provision,'
When asked about patterns of spending in infrastructure and the political cycle, Adam remarked that the creation of the NIC had met a genuine need for an apolitical body to assess the UK's strategic needs within a time frame for delivery. Adam explained that 'historically funds have gone to strategic infrastructure like major roads and rail, but now it's clear that spend should be directed to big urban conurbations which need housing support.'
On the issue of balancing public and private investment, Adam stated that there is no magic spell to make this work, rather it is always context specific - different parts of central and local government needing to work more effectively together. Watch Adam speaking at the forum in the video below: