Parliamentary Search

Written question asked by Lord Soames of Fletching (Conservative) on Thursday, 16 July 2015, in the House of Commons. It was due for an answer on Monday, 20 July 2015. It was answered by Damian Hinds (Conservative) on Thursday, 23 July 2015 on behalf of the Treasury.

Infrastructure: Capital Investment

Question

To ask Mr Chancellor of the Exchequer, what steps he is taking to improve the UK's attractiveness to private investment in infrastructure; and if he will make a statement.

Answer

The government has sought to make private investment in infrastructure more attractive through a number of initiatives.

The government established the UK Guarantees Scheme (UKGS) in 2012 to help infrastructure projects access capital market finance by enabling them to issue government-backed bonds. A total of £1.7bn has been guaranteed to date, supporting 7 projects with a combined capital value of approximately £4bn.

Platforms such as the Insurers’ Infrastructure Investment Forum and the Pensions Infrastructure Platform have been set up to maximise institutional investment in infrastructure. In 2013, a group of six insurers agreed to aim to invest £25bn in UK infrastructure over 5 years – with over £5bn already invested they are on track to meet this goal.

The government’s efforts to attract private investment in infrastructure were recognised in Nabarro LLP’s Infrastructure Index, which assessed the UK as number one in the world for attracting investment in infrastructure.

The UK’s National Infrastructure Plan is underpinned by a pipeline of projects worth £411 billion to 2020 and beyond. 64% of these projects are funded solely by the private sector. Further information can be found in the government’s updated national infrastructure pipeline, which was published this month.

Secondary information

Type
Written question
Reference
7616
Session
2015-16
Subjects
Capital investment Infrastructure
Link
View this Written question on www.parliament.uk