Urbanisation is integral to economic growth. As cities around the world are competing for the best talents and striving to present themselves as a vibrant business location, the ageing infrastructure in the UK can no longer do justice to Britain's dynamic, versatile economy.

The magnitude of the problem has been rightly recognised by the Government, and there is an earnest intent to address the issue. In its National Infrastructure Plan 2011, the Government identified transport, energy, communications, water and sewerage, and flood-risk management as priority areas for infrastructure investment.