Posts tagged HM Treasury
Chief secretary to the Treasury Danny Alexander has announced the creation of a new infrastructure forum which will give business leaders a direct line to government and boost the trades.
Speaking at the Liberal Democrat Conference yesterday, Mr Alexander said the National Infrastructure Plan Strategic Engagement Forum (NIPSEF) will bring government and industry together to help deliver the UK’s infrastructure needs.
NIPSEF is expected to be launched this autumn. It will bring together government and key trade bodies which will work with CITBConstructionSkills, the sector skills council for the industry.
The infrastructure alliance will include the Association for Consultancy and Engineering, the Civil Engineering Contractors Association, the Construction Products Association and the Institution of Civil Engineers.
It will be co-chaired by Mr Alexander and the chief executive of the Association for Consultancy and Engineering, Nelson Ogunshakin.
Mr Ogunshakin said: “The National Infrastructure Plan is the government’s most important strategic programme to deliver infrastructure, the core driver to UK economic growth.
“Delivering such an ambitious programme of infrastructure expansion on this scale means bringing government and industry together to successfully achieve this goal.
“This new National Infrastructure Plan Strategic Engagement Forum will place the expertise of industry at the heart of government to make that happen.”
The Confederation of British Industry (CBI) has urged the government to boost economic growth by giving a greater emphasis on infrastructure projects in the UK.
In a new report published today, the CBI has recommended to the Treasury to enhance the credit rating of government construction schemes and raise public funds that will secure private business investment, unlocking billions of pounds to the UK economy.
According to the CBI Director-General, John Cridland, infrastructure investment will offer the UK a sustainable growth development that businesses need.
Mr Cridland said: “As this report makes clear, if we want to see the billions of pounds needed to upgrade our ageing infrastructure and secure jobs and growth for the long-term, the Government must make smarter use of limited public finances. By underpinning and lifting the credit rating of certain infrastructure assets, it can make them less risky and more attractive to investors.
The CBI says that harnessing just a 1 per cent increase from the UK’s pension fund will give a ‘vital boost’ to the UK’s underfunded infrastructure networks and make them more attractive to investors.
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