Taking the joined-up approach to infrastructure

Doug Smith, chairman of property consultancy CBRE Scotland, examines the role that ‘shovel ready’ projects can play as the nation looks to recover from Covid-19

Afaced before any development can be considered shovel ready, which are often time consuming and costly to overcome. If shovel ready is to make a difference the challenge for both the public and private sectors is whether we have a broad enough selection of available projects, where the criteria I mention above can be fulfilled, and which can play a role in getting us back on to a path of inclusive growth.

I would suggest that we are probably not in that position.

And the reality of this challenge is one that both sectors must quickly face up to and address.

There is a greater need than ever before for the public and private sectors to work collaboratively. Not just because each hap - pens to have a role to fulfil, but because positive collaboration will deliver better projects, more quickly, with greater short and long-term economic and social benefits.

That will require fresh thinking from both sides.

Each must ask the question “what can we bring to a project that will make it hap - pen?”, which is a different mindset to “it won’t happen unless…”.

Take infrastructure, most commonly the domain of the public sector.

Through early engagement with the private sector, we should make sure that the investment in factories, offices or houses which is necessary to deliver economic and employment outcomes will follow that initial investment.

0 Major construction projects can provide a significant economic boost

need support if private sector capital investment is to be released.

And that comes back to engagement between private and public sectors.

There may be a need for more than “light touch” intervention from the public sector both to drive through the necessary permissions and then support viability.

The challenges of market failure may need decisive intervention, potentially in locations where such a requirement has never before been seen.

There is a real need to share resources, ide - as, capital, skills, experience, appetite for risk, innovation etc, etc.

For, if shovel ready projects are to make a difference, then we need to work together to find them, create them, pick the best ones, and make sure they are delivered quickly to leave a lasting benefit for our economy and our people.