The changing role of independent economic regulators in decision-making for major infrastructure projects in the UK

The RPI Research Group is currently developing a programme of work to explore the evolution of decision-making processes for major infrastructure projects. It will investigate the role and effectiveness of independent regulators in this process, identifying the conflicts and ambiguities that have emerged from increasing tensions between the traditional role of an independent regulator and the emerging strategic priorities of government. The programme seeks to draw conclusions about the impacts that these tensions have had on accountability, forecasting in the context of uncertainty, adaptation to changes in technology, and incentivisation of investment; asking if a new decision-making paradigm which reconciles the often conflicting priorities of government and independent regulator, while capturing the long-term nature of such investments, is required.

Continue ReadingThe changing role of independent economic regulators in decision-making for major infrastructure projects in the UK

The changing role of independent economic regulators in decision-making for major infrastructure projects in the UK

How decisions are, or should be, taken for major infrastructure projects is a recurring area of policy debate. Longstanding differences exist between those who see a prominent role for government in directing, and potentially funding, large-scale infrastructure projects, and those who advocate that government involvement should be limited to ensuring that an appropriate policy and regulatory framework is in place to facilitate such investments by the market where necessary.

Continue ReadingThe changing role of independent economic regulators in decision-making for major infrastructure projects in the UK