The UK Government should use the Autumn Statement to clarify its intent toward foreign investment in UK infrastructure, urges GIIA’s CEO Andy Rose.
In an interview with the Mail on Sunday, (2nd October 2016) Andy pointed to the current levels of uncertainty facing investors in the UK.
“Delays to large infrastructure projects already in the pipeline, the recent announcement to review rules on foreign ownership of critical national infrastructure and talk of a new international trade strategy have combined to create unusual levels of uncertainty in the UK. In isolation, these issues might be understandable but when viewed together, the UK is in danger of sending the wrong message to those that stand ready to invest £ billions in vital UK infrastructure.” Said Rose.
He continued: “When international infrastructure investors are considering where to focus their activities they are seeking stable government policies, a clear pipeline of projects and reduced barriers for investment. Many of GIIA’s members could have a crucial role to play in delivering the international investment the UK needs in the post-Brexit world. We look forward to working collaboratively with UK Government to help create the right environment to deliver this”.
Global investors in infrastructure have a vital role to play in post-Brexit Britain. That was the message from Lord Hill to an audience of many of the world’s leading investment funds who met in the City of London on 5th October.
In a fascinating personal insight into the politics and Politics of the forthcoming Brexit negotiations, the former EU Commissioner emphasised the importance of Britain demonstrating to the world that it was open for business by setting out a new programme of infrastructure investment. But he urged investors to make their case to Government sooner rather than later.
With the timetable for triggering Article 50 now clear, Lord Hill said that business had a small window in which to ensure that the UK Government understood their requirements as it developed its future strategy and negotiating mandate. And he concluded by saying that whatever the outcome of the negotiations, business needs certainty in order to plan ahead.
“We were honoured to have the opportunity to hear directly from Lord Hill on his unique insights into the issues and challenges facing the counterparties in the forthcoming negotiations. Many of our global members have already invested billions of pounds in UK infrastructure that has seen vast improvements to our transport system, our utilities and our renewable energy supply. There is an appetite for further investment in the UK but the Government needs to understand the role it can play to reduce uncertainty and remove unnecessary barriers. We look forward to that dialogue.” said Andy Rose, GIIA’s CEO.