Budget infra focus welcomed, but more clarity needed around role for private capital
GIIA CEO Lawrence Slade has today welcomed UK Chancellor Rishi Sunak’s Budget that heralds a new dawn for publicly financed infrastructure across the length and breadth of the United Kingdom. The Budget is set to raise net investment to three times the average seen over the past 40 years with £600 billion committed in this parliamentary term.
“Understandably, today’s Budget has a considerable focus on the efforts of the UK Government in supporting those individuals and industries affected by the ongoing impacts of the coronavirus. However, the infrastructure commitments laid out in the Chancellor’s Budget are unprecedented in their scale and will drive economic growth across all the UK’s regions,” said Slade.
“The Government has promised an enormous investment of public funds into UK infrastructure and this is to be welcomed. What is still required, however, is a clear roadmap for the role that the private sector should play in this infrastructure revolution.”
GIIA members are making significant, and ongoing, investment today in the infrastructure today that families and communities rely on across the length and breadth of the UK. These include:
- Major investments in 17 of the UK’s 20 airports which account for 94.4% of total passengers
- Supporting almost 120,000 jobs in the nation’s privately owned ports
- Supplying 2/3rds of UK households water needs
- Providing an additional 14 million households with full fibre internet while continuing to invest in 5G technology
“Only through strong collaboration between Government and the private sector can we ensure delivery of the modern, innovative and environmentally responsible infrastructure that the UK needs for future generations.”
“GIIA will continue our engagement with the UK Government on the development of a policy and regulatory framework which encourages the role of private investors in delivering such an ambitious infrastructure strategy that benefits all of the UK.”