The new National Infrastructure and Service Transformation Authority (NISTA) will bring infrastructure strategy and delivery together to address the systemic delivery challenges that the government says have stunted economic growth for decades.

The announcement comes as the National Infrastructure Commission publishes a new report that blames a debilitating lack of strategic clarity as a root cause of spiralling infrastructure costs in the UK.

In a speech at the national headquarters of construction giant Skanska yesterday, the chief secretary to the Treasury, Darren Jones, set out his vision for the future of the UK’s infrastructure.

Mr Jones said NISTA will “get a grip on the delays to infrastructure delivery that have plagued our global reputation with investors” and “restore the confidence of businesses to invest and help break the cycle of low growth”.