The government’s British Infrastructure Taskforce is set to publish the results of its research into leveraging private finance for national infrastructure.
Darren Jones, chief secretary to the Treasury, told Building last week that the group’s recommendations would be released “in the next couple of weeks”.
The British Infrastructure Taskforce, which was set up by Labour in opposition and carried over into government to advise the Treasury, is composed of banks, pension funds, insurers and other investors, both domestic and foreign.
“They’re currently doing some papers for us about what the range of possibilities are, looking at what we do at the moment, what works, what doesn’t work, what we don’t do at the moment,” said Jones.
“Lessons, for example, from PFI in the run up to 2010, and then also looking at international best practice.”
>>See also: Building launches new campaign to look at funding projects in an era of constrained public finances
The minister said the group’s work would feed into the government’s decision making as it prepares the 10-year infrastructure strategy, which is set to be published alongside the spending review, expected in June.
Jones said the government “haven’t taken any decisions” yet about its approach to private finance but said there would be “a chapter in the infrastructure strategy on the government’s approach to private capital”.
It comes as Building announces the launch of a new campaign called Funding the Future, which will examine fresh ways of attracting and using finance to boost construction projects at a time of constrained public finances.
Building’s initiative will share industry knowledge and collect ideas from readers ahead of a special report, to be published at the Building the Future Live Conference in London on 2 October.
Funding the Future
Building’s Funding the Future campaign seeks to examine fresh ways of attracting and using finance to boost construction projects at a time of constrained public finances.
It will examine options for public-private partnerships that can draw on private capital to pay for large infrastructure projects, schools, prisons, hospitals and housing.
It will also look at existing models for private and public funding and examine how these can be optimised to ensure funding is efficiently spent and leads to more shovels in the ground as Keir Starmer looks to construction to boost flagging economic growth.
Over the next few months we will share learning, consult with industry and collect ideas from readers. This will culminate in a special report to be published at our Building the Future Live Conference in London on 2 October – click here to book your tickets now.
To share your ideas of new funding models, email carl.brown@assemblemediagroup.co.uk. To find the campaign on social media follow #Buildingfundfuture.
