Boris Johnson announces consultation on proposed London infrastructure fund

Outline

Boris Johnson has announced the release of a public  consultation on a proposed long term infrastructure plan  for London (the “2050 Plan”), designed to compliment the  Mayor’s shorter term plan for London, the 2020 Vision.  

The 2050 Plan sets out the Mayor’s department’s projected  growth estimates for greater London until 2050 and uses  these to align proposals for the timing, locations, quantity  and costs of infrastructure projects to be undertaken across  the capital in the short, medium and long term.  Key to the  proposals are increased development of east London along  with continuing investment in and pursuit of travel projects  such as Crossrail 2, new river crossings, bike paths and the  south London metro. 

The consultation proposes that the 2050 Plan is supported  by the set up of an Infrastructure Delivery Board bringing  together experts from public and private enterprise and that  that the key elements of the plan are backed up by statutory  recognition of the growth estimates for London and the  projections of the infrastructure required to meet this.

The 2050 Plan also clearly outlines the need for the  combined involvement of and investment from both private  and public sector in financing, organising and undertaking  the range of works projected to be required, citing the  benefit to the tax payer seeking private funding as well as  the boost to the economy from the increased volumes of incountry work both skilled and unskilled.

Key Facts and Figures

  • The plan was launched on 30 July 2050 and the  deadline for responses to the consultation is 31 October  2014. 
  • Responses are encouraged on the form provided within  the consultation document, answering 24 specific  questions following issues identified within the plan,  however open responses are also invited. 
  • The 2050 Plan projects 
    • London’s population to reach 10 million by the early  2030’s and 11 million before 2050;
    • 50% increased demand for transport and 20%  increased demand for energy by 2040;
    • water demand exceeding supply by 21% by 2040;  
    • the need for approximately 50,000 new homes  being built a year;
    • the need for around 600 educational establishments  to be built by 2050.
  • Spending on infrastructure between 2016 – 2050 as  required to meet the plan’s projections is estimated  at £1.3 trillion*, with about £200billion* of that being  spending on transport. 
  • The Plan 2050 includes the use of new and developing  technologies to increase efficiency in utilities and waste  projects, including water treatment facilities, flood  management works and retrofitting of energy efficiency  solutions into existing preemies.
  • Green infrastructure projects are supported and the plan  intends to preserve greenbelt land and maintain livings  standards by securing 9000 hectares of accessible green  space.  The 2050 Plan also champions the adoption  of a dedicated task force to manage integration and  investigation of sustainable development options with  wider infrastructure works.