Breadcrumb
GIIA's market spotlights December 2024
GIIA's Policy and Public Affairs team round up on our global advocacy work throughout December

U.S. news
By David Quam, Senior U.S. Advisor and Alessandro Pecorari, Policy & Public Affairs Manager
The United States is poised for a major shift in its governance, with the 119th Congress taking their seats on January 3, followed by the inauguration of President-elect Donald Trump and Vice President-elect JD Vance on January 20. This transition marks a significant change in the political balance of power in the U.S., with Republicans securing control of both chambers of Congress.
The Senate will consist of 53 Republicans and 47 Democrats (including independents who caucus with Democrats), while Republicans have clinched at least 218 seats in the 435-member House, solidifying their majority. From the outset, President-elect Trump is expected to issue a series of executive orders that signal a departure from the Biden administration's focus on clean energy initiatives, environmental regulations, and union-centric infrastructure development. This pivot, alongside the reauthorization of a few key pieces of federal legislation, presents a unique opportunity for GIIA to engage in shaping critical legislation and policy under the new administration.
In response to these anticipated changes, GIIA will work with stakeholders and the U.S. Policy Working Group, to monitor and influence developments on several crucial areas, including the upcoming reconciliation bill, expected modifications to the Inflation Reduction Act (IRA) tax provisions, permitting reform initiatives, and preparations for the reauthorization of the Infrastructure Investment and Jobs Act (IIJA) ahead of 2026. Through this strategic approach, we aim to position ourselves effectively to navigate the evolving policy landscape, and to contribute to the dialogue surrounding private infrastructure investment and development in the United States.
As this year ends, we attended the PEI Investor Forum in New York on December 4. David Quam took part in a panel on ‘The influence of the US election on the domestic infrastructure landscape’, where he spoke on several subjects including a deep dive into what’s next for American infrastructure subsectors, what the recent election means for the IRA, as well as investor projections for infrastructure under the new administration.
UK news
By Nick Elliott, Policy & Public Affairs Manager
As 2024 draws to a close, it has been a year of heightened policy activity in the world of UK infrastructure. From engaging with all the key infrastructure and investment-related departments to proactively shaping the government’s infrastructure policy agenda, GIIA has firmly positioned itself as the ‘go-to’ infrastructure investor voice for the government.
Across sectors – whether water, energy, digital, regulation or tax, we have worked hard to ensure that the investor perspective is heard and considered. This year, under a new government and all the uncertainty that has brought, we have made a tangible impact on shaping infrastructure policy, reflecting members’ priorities.
Looking ahead to 2025, the pace of activity shows no signs of slowing. Key areas of focus will include the water sector review, decisions on the future structure of the electricity market, and the development of a new 10-year infrastructure strategy amongst many others. Inevitably, there will continue to be an important role for investors in having their say on these topics through consultations, roundtables and events we are organising in 2025.
To ensure we align our efforts with your priorities, I encourage you to schedule a 2025 UK priorities meeting with me to discuss areas of interest and involvement. Your input will be critical in keeping you informed and engaged as we navigate the year ahead. Please do send me an email to arrange this at nelliott@giia.net
A sincere thank you to every member who has contributed to our work this year. Together, we have made some great progress, and I look forward to continuing our collaboration for an even more impactful 2025.
EU news
By Harvey Chandler, Head of Policy & Public Affairs
The new European Commission, led by President Ursula von der Leyen, has on 1 December commenced its term in office, following several months of delays. The College of Commissioners includes Spain’s Teresa Ribera Rodríguez as Executive Vice-President for a Clean, Just, and Competitive Transition, and Wopke Hoekstra as Commissioner for Climate, Net Zero, and Clean Growth, both of whom will be important stakeholders for GIIA and our members.
Looking ahead to 2025, we can expect the EU's Clean Industrial Deal within the first quarter, which is aimed at supporting the Commission's 90% reduction in emissions target by 2040. This is likely to include initiatives including a new Electrification Action Plan that follows in the footsteps of the 2024 Wind and Grids plans, setting out a roadmap for changes to support industrial electrification across Europe.
A new Competitiveness Fund is also set to be discussed, replacing the NextGenerationEU support which comes to an end in 2026. The fund, as envisaged, will help catalyse investments in strategic sectors at the heart of the Net-Zero Industry Act announced at the start of 2024.
On transport, we expect the Commission's review of EU aviation regulations, covering areas such as slots, ground handling, and charges, to be completed in early 2025. Efforts are also expected in the EU’s push to complete TEN-T interim targets in 2030, including resolving ongoing issues in increasing the attractiveness of private capital investments in rail infrastructure.
For information on how you or your company can get involved in our advocacy work, get in touch with our Membership Officer Sophia Taylor, or email any of our Policy & Public Affairs team via the links above.