The recent Queen’s Speech addressed infrastructure projects as one highlight of the government’s strategic plan beyond Brexit.
One of the many proposed bills included a high-speed rail project, the HS2 network between Birmingham and Crewe. The project is scheduled to begin with the first phase of construction between London and Birmingham in 2018. Aside from transportation, the bills also covered issues on housing, energy and climate change.
Supplies of metal equipment such as zirconium crucibles from companies like Winward Engineering LTD will likely see a spike in demand due to the government’s infrastructure agenda. Her Majesty announced that the investments would allow the U.K. to maintain its leadership in new markets, including for electric vehicles.
The Automated and Electric Vehicles Bill seeks to align the regulatory framework for the industry with the rapidly changing technology for electric cars. The proposal will also extend mandatory motor vehicle insurance to include automated cars for timely, fair and easy payment for compensations claims.
Aside from these, it will help in improving the quality of air, which is another topic addressed in other bills pertaining to climate change.
Sustainability and renewable energy comprised some of the other highlights of the government’s strategy for the near future. The speech highlighted plans to support the implementation of the Paris Agreement and the need to reduce energy bills for consumers among other environmental issues. If the proposals come to fruition, you can expect to pay lower fees for electricity in the future.
Other proposals include those for the residential property market, including issues on housing supply and tenants fees.
Infrastructure developments will be necessary to ensure the U.K. has a bright future even after it leaves the European Union. The government’s modern and industrial strategy will be essential to achieve this goal, as it embarks on negotiations related to Brexit.