Our response to the UK Infrastructure Bank

As a business delivering major infrastructure projects from our head office in Middlesbrough, we welcome the Chancellor Rishi Sunak's announcement of a UK Infrastructure Bank to be based in the North of England and a £4bn “levelling up” fund to finance local infrastructure improvement projects.

Infrastructure has a positive impact on our nation's social fabric, stimulates economic growth and deliver new opportunities for employment and develop skills for life.

The UK Infrastructure Bank has the potential to leverage greater levels of private sector investment, bringing with it the expertise and accountability required to deliver major infrastructure projects better, quicker and to high standards.

We look forward to hearing more from the Government about the detail. There is a still a way to go to understand how the UK Infrastructure Bank interacts with private finance delivery models to make a truly meaningful impact. What will replace PF2? Will we see a greater appetite for existing, proven investment frameworks such as the Regulated Asset Base Model? We look forward to hearing more.

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