Abstract
In 2015, the UK Government developed the Roads Investment Strategy (RIS) (2015–2020), a $18.8bn government fund for delivering infrastructure improvements, removing the need for Public–Private Partnership finance of England’s Strategic Road Network (SRN). The second RIS period (2020–2025) worth $33.9bn demonstrates that government finance remains the preferred method of funding for the SRN after the delivery body, Highways England (now National Highways) delivered efficiencies of $1.26bn during the first RIS through effective cost management.
The non-strategic network is funded through both public and private funding. The three case studies of Bristol, Gloucester and Taunton showed that a combination of PPPs and government funding was utilised to deliver new highways within the same period as the first RIS, with private companies building new infrastructure through Build Own Operate Transfer (BOOT) contracts.
The temporal nature of regeneration and the associated highway structure means that a long ‘tail’ can be created for developers where they struggle to divest the transfer of highway assets at the end of the project. This was a problem for developers in Bristol but created an opportunity for further development in Gloucester. The key lesson for local government and developers is to open dialogue early in the process to ensure that new highway infrastructure can be adopted as soon as it is completed.
The non-strategic network is funded through both public and private funding. The three case studies of Bristol, Gloucester and Taunton showed that a combination of PPPs and government funding was utilised to deliver new highways within the same period as the first RIS, with private companies building new infrastructure through Build Own Operate Transfer (BOOT) contracts.
The temporal nature of regeneration and the associated highway structure means that a long ‘tail’ can be created for developers where they struggle to divest the transfer of highway assets at the end of the project. This was a problem for developers in Bristol but created an opportunity for further development in Gloucester. The key lesson for local government and developers is to open dialogue early in the process to ensure that new highway infrastructure can be adopted as soon as it is completed.
| Original language | English |
|---|---|
| Title of host publication | Handbook on Public Private Partnerships in Transportation, Vol II |
| Editors | Simon Hakim, Robert Clark, Edwin Blackstone |
| Place of Publication | Cham |
| Publisher | Springer Nature |
| Chapter | 10 |
| Pages | 179 |
| Number of pages | 198 |
| Volume | 2 |
| Edition | 1 |
| ISBN (Electronic) | 978-3-031-04628-5 |
| ISBN (Print) | 978-3-031-04627-8 |
| Publication status | Published - 31 Jul 2022 |