Government to extend infrastructure underwriting scheme

Thu 27th June 2013, 4:46 pm

The UK Guarantees scheme, which underwrites infrastructure projects, is to be expanded.

Chancellor of the Exchequer: George Osborne

In today’s comprehensive spending review, chancellor George Osborne said that the scheme would now continue until at least December 2016.

The scheme, announced in 2012, is designed to encourage private investment in infrastructure schemes through government debt guarantees.

The chancellor also announced:

  • the proposed new nuclear power station at Hinkley Point C is eligible for a UK Guarantee, in addition to more than 25 projects worth £13.5 billion which have also been prequalified
  • the Mersey Gateway Bridge will receive a UK Guarantee of up to £500 million to enable construction to begin early next year
  • HM Treasury is working with the Greater London Authority (GLA) to support housing regeneration in Tottenham through the scheme.

Read an in-depth analysis of the spending review by Pinsent Masons partner Alan Aisbett

 

 

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