The report, from Sir John Armitt who chaired the Olympic Delivery Authority, found that there has been a lack of long-term strategic planning, with successive governments failing to set priorities based on future needs.
Major infrastructure projects "are often controversial and politicians are rarely in office long enough to see the electoral dividends of major investment programmes" it added.
Problems surrounding the planning and implementing of schemes had affected energy policy, airport capacity, road and rail schemes and water projects.
The report went on: "The Office for National Statistics, for example, forecasts UK population will grow to over 73 million people by 2035.
"However, there is little evidence governments are planning for the infrastructure we will need by then to support another 10 million people."
Commissioned by Labour leader Ed Miliband and Shadow Chancellor Ed Balls last year, the report called for a new independent National Infrastructure Commission to be established.
The commission - appointed by Government and opposition parties -would identify the UK's long-term infrastructure needs and monitor the plans developed by governments to meet them.
The report suggested such a commission would also consider how the UK's future needs could be met in a targeted and efficient manner with value for money being a key factor.
It called for a new approach to prepare the country for major challenges in future, such as population growth and climate change.