United Kingdom: Technical Assistance Report-Public Investment Management Assessment

IMF Staff Country Reports, September 2, 2022

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Canonical URL: United Kingdom: Technical Assistance Report-Public Investment Management Assessment

This Technical Report discusses the results of the Public Investment Management Assessment (PIMA) of the United Kingdom (UK) undertaken in April 2022.
The assessment is timely as the UK plans to increase infrastructure investment in order to boost economic growth, reduce regional disparities and help achieve the climate transition.
The PIMA finds that the UK is well positioned to implement the planned ramp-up of public investment given it has robust institutions throughout the public investment cycle.
Notwithstanding this, the Report suggests areas for reform that could increase efficiency and unlock greater value from public investment.
The application of the Climate-PIMA module is covered in a separate companion report.
Publication date on the landing page: September 2, 2022.

The UK is well positioned to implement a planned ramp-up of public investment because it has robust institutions throughout the public investment cycle.
Planned increases in infrastructure investment are intended to:
- boost economic growth;
- reduce regional disparities;
- help achieve the climate transition.
The Report identifies areas for reform that could:
- increase efficiency in public investment processes;
- unlock greater value from public investment.

Strengthen reforms in identified areas to improve efficiency and value-for-money of public investment.
Ensure institutions across the public investment cycle continue to support the planned investment ramp-up.
Coordinate public investment planning with climate objectives (Climate-PIMA application addressed separately).