Civils contractors today welcomed the opening of the new UK Infrastructure Bank and said that they look forward to working with the new institution to identify schemes that will kick-start growth across the UK.
Launched today at its headquarters in Leeds and opened by Chancellor of the Exchequer Rishi Sunak, the new UK Infrastructure Bank will have an initial £12 billion of capital to deploy and will be able to issue £10 billion of government guarantees, helping to unlock more than £40 billion of overall investment.
Commenting, Chief Executive of the Civil Engineering Contractors Association (CECA) Alasdair Reisner said: “It is great news for the UK that the new bank is to be tasked with accelerating infrastructure investment, cutting carbon emissions and levelling up the economy.
“In particular the bank’s remit of examining schemes on a case-by-case basis is an ideal opportunity to harness the expertise of industry in all parts of the UK.
“We look forward to working with our members and the new bank to ensure the expertise of the UK’s civils contractors is harnessed to the full in identifying the schemes that will drive economic growth, create jobs, and offer opportunities to invest in low carbon infrastructure.”
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