The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

UK Infrastructure Bank Launches in Leeds

UK Infrastructure Bank Launches in Leeds
22 June 2021
 

Launched at its headquarters in Leeds, the UK Infrastructure Bank is to accelerate investment into ambitious infrastructure projects.

There will reportedly be billions of pounds available to UK businesses and communities, to support local growth and tackle climate change.

First announced by the Chancellor alongside the spending review, the bank will help to finance important projects in the UK in sectors including clean energy, transport, digital, water and waste.

The 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.

From 17 June, the bank will be able to issue loans, equity, or guarantees to private projects, and it will start lending to local authorities later in the summer.

 

Leeds HQ for UK Infrastructure Bank

 

Chancellor Rishi Sunak marked the bank’s opening with a visit to its new office in Leeds, where he met senior leadership including the bank’s Chair, Chris Grigg, and hosted a roundtable with local infrastructure and business leaders.

Grigg said: "I am delighted to be leading this institution, which will be a catalyst for investment to support regional economic growth and net-zero ambitions."

Sir Roger Marsh OBE DL, Chair Leeds City Region Enterprise Partnership & NP11 added: "Locating this powerful national institution in our region will be a real catalyst for change and a major driver of our post-pandemic recovery. It will build on our long-term commitment to ensuring that the benefits of economic growth are felt by all of our communities.

"This landmark decision is testament to the strength of our financial and professional services sector and will ensure a strong and successful long-term economic outlook for the city region, the North and the UK. It will act as a catalyst to inspire economic growth and business confidence at a time when it is needed most and it is pleasing that it will be operating from Leeds."

Picture: a photograph of a leather wallet, showing three cards, one of which is a VISA.

Article written by Ella Tansley | Published 22 June 2021

Share



Related Articles

Chancellor Reveals Post-COVID Economy Plans in Autumn Budget

As Rishi Sunak sets out his departmental spending, new fiscal rules and public service plans – what are the main takeaways for the commercial property...

 Read Full Article
The Budget 2021 – What do FMs Need to Know?

As Chancellor Rishi Sunak reveals this year’s Budget, what are the main points that facilities managers should be aware of? The annual Budget is set by the...

 Read Full Article
UK to Have Legally Binding Sustainability Targets From 2022

As part of the updated Environment Bill, the government will underpin key environmental commitments with legally binding targets, including for air quality, water, waste...

 Read Full Article
Should There be a Legal Maximum Working Temperature?

As temperatures in Europe reach record-breaking highs, unions are calling for a legal maximum temperature for work of 25°C to be set. However, the Health and...

 Read Full Article
UK Government’s Net-Zero Strategy Ruled as ‘Unlawful’

The UK’s path to net-zero has been described as “inadequate” and “unlawful” by the High Court. Amidst the backdrop of an extreme...

 Read Full Article
SecuriGroup Supports Knight Frank in Preparing for the Protect Duty

SecuriGroup is working with Knight Frank to ensure security teams are fully aware of the challenges in preparing for the Protect Duty law. Led by SecuriGroup’s...

 Read Full Article
70 Years of Workplace Health and Safety

As the country celebrates the Queen’s Platinum Jubilee year, Alcumus have taken a trip down memory lane to look at how health and safety has evolved over the last...

 Read Full Article
Fuel Protests – Does Climate Activism Work?

2022 has seen several protests at refineries and fuel terminals, causing disruption in fuel supplies. Does action of this scale help or hinder progress on stopping...

 Read Full Article
Leeds Development First Outside London to Achieve NABERS 5 Star Target

A new development in the heart of Leeds, 11 & 12 Wellington Place, has been officially confirmed as one of the UK’s most sustainable office buildings. With a...

 Read Full Article
Rees-Mogg Urges Civil Servants to Make Use of London Office Space

Cabinet minister Jacob Rees-Mogg, in a letter to cabinet colleagues, is urging civil servants to reduce how much time they spend working from home. In a letter...

 Read Full Article