NuGen Properties

Infrastructure inflation costed at £84bn

Infrastructure inflation costed at £84bn

A report by construction cost consultant Currie & Brown says that inflation, recession and supply chain uncertainty are jeopardising the viability infrastructure projects.

Currie & Brown’s 2023 Infrastructure Cost Predictions Report puts the total cost of Britain’s National Infrastructure Pipeline (NIP) at £483bn by 2026, of which £84bn is the direct result of inflation.

It argues that early planning and effective cost management will be needed to ensure projects are not scaled down or scrapped altogether, thus wasting the money already spent.

Its recommendations include earlier procurement to take advantage of longer lead times and a two-stage procurement process for larger projects to allow for more flexibility.

Nick Gray, Currie & Brown chief operating officer for UK & Europe, said: “Britain has entered recession and inflation remains a significant threat to the financial health of the country. The chancellor has prioritised infrastructure as a key lever for driving labour market participation, growth and productivity, and for accelerating the levelling up agenda.

“However, with budgets so tight and such pressure in the wider economic landscape, we must urgently change the way we approach infrastructure investment if projects are to be successfully delivered. A business as usual approach is simply not feasible. We are calling on the government, local authorities and stakeholders to take immediate action. Early and informed decision making will be critical to safeguarding the infrastructure pipeline, and Britain’s economic recovery.”

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Dan Morten 18/01/22

Easy to work with, Jordan and the team were professional and were easy to communicate with.
Would highly recommend.

Di Hayes 20/08/22

NuGen Properties built an extension to the rear of my property, replacing the old conservatory. I am so pleased I chose this company. From the initial quotation, through the build and after they were professional, polite & well mannered. They kept the site tidy throughout the build and kept me informed of each stage as it happened. The work was finished to a good standard and I have had nothing but compliments on their work. I am already planning for them to come back and do some more work for me in a few months. I would 100% recommend them.

Bradley Eyles 20/06/23

Nugen were fantastic throughout the works they carried out on my property, Jordan provided constant updates and ensure any questions I had were always answered. All works were completed in a timely fashion, on budget and exceptional customer service. Highly recommend!

Sonny Carter-heyward 29/02/22

Brilliant service, renovated my house to make a dream a reality. Thanks guys

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Great firm to communicate with fast and good quality work.