The value of UK government infrastructure and construction projects has increased by £38.9bn (€45.7bn) since March, according to a report by accounting firm KPMG.

The report, ‘National Infrastructure and Construction Pipeline – KMPG Analysis’ counted an increase to £502.3bn, highlighting increases of £12bn for housing and regeneration, and £9bn for communications.

However, 84% of the project pipeline remained largely consistent in spend, with energy retaining the largest share of government infrastructure spending.

KPMG found that although projects in the South were £71.9bn compared to £47.8bn for the North, spend per capita was equal. UK-wide projects made up 65% of spending at £326bn.

Richard Threlfall, head of infrastructure, building and construction at KPMG UK said: “Our analysis confirms that there has been a significant increase in the value of that pipeline.

“I expect infrastructure investors and the construction industry will both welcome having a comprehensive view of the spending plans of government and utilities, covering both social and economic infrastructure.”