Building has unveiled its independent report into the future of infrastructure funding in the UK. Based on original research by the Building the Future Think Tank, it examines in detail the potential for private funding sources – and the government’s intentions to make use of them.
The 29-page report, titled Funding the Future: How Private Finance Can Rebuild the UK, was launched at the Building the Future Conference in central London this morning. The work was led by Building contributing editor Joey Gardiner, while an advisory panel of industry experts helped to inform his research.
The report concludes that the hard reality of the public finances means that Labour can only fulfil its promise of national renewal through a bold approach to infrastructure funding. Despite coming to power with no particular desire to restart a big private finance programme, the government is now being forced – by a stuttering economy and empty Whitehall coffers – to look again at how to get private capital to pay up front for the infrastructure the country so badly needs.
>> Read Joey Gardiner’s summary: Labour must rethink private finance for infrastructure projects
The advisory panel included Mark Reynolds, executive chair of Mace and co-chair of the Construction Leadership Council and of the Construction Skills Mission Board, Stephen Beechey, group public sector director at Wates, Meliha Duymaz, chief financial officer and executive vice-president of Skanska UK, Craig Elder, partner at Browne Jacobson, James Stewart, chair of Agilia Infrastructure Partners and Beth West, director and founder of Navigate Advisory.
The report brings together and builds on the think-tank’s Funding the Future project, launched at the start of this year, which has undertaken an in‑depth investigation into the potential solutions for bringing in private finance to pay for public projects: what approaches are being considered, and which should be.
Download the full report below
