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ACE has staged the latest of its investment roundtables, bringing together members of ACE and experts from across the infrastructure financing remit.
The roundtable reviewed the Autumn Statement and its impact on the infrastructure sector and looked at blocks and challenges to private sector investment and the government's approach to this.
Several key areas of uncertainty were discussed:
• The rise up the political and press agenda of infrastructure investment. There was growing recognition demonstrated in the Autumn Statement and the National Infrastructure Plan that there is correlation between infrastructure investment and economic growth.
• The move to provide greater long term certainty through the pipeline of 500 projects was well acknowledged by the table.
• There was discussion on the detail on how pension funds will be harnessed to finance projects and where that detail was lacking.
• Discussion about how industry would support the continuation of a long term outlook, considered the issue that many projects being discussed would take time to materialise rather than provide a short term return for government.
• On regulatory review, the table discussed the extent to which the key issue here would be certainty over government plans and how this could be best ensured for large scale projects and long term incentives.
• Talks also covered how industry can provide greater clarity about costs and financing risks for government. The table acknowledged that achieving this would help ensure that government had the opportunity to respond positively.
This was the first of a series of roundtables that ACE will hold this year as it works at the heart of the debate on infrastructure investment with industry and political stakeholders to ensure continued investment into projects and work for members and the sector.
The next roundtable will take place on March 29 with Lord Skidelsky attending to discuss prospects for the Green Investment Bank and the proposed British Investment Bank.
Attendees
Darryl Murphy, KPMG
Julian Ware, TfL
Simon Astley, Balfour Beatty
Keith Howells, Mott MacDonald
Stephen Wells, URS
Nelson Ogunshakin, ACE
John Gibbs, PwC
Philip Rycroft, Hutchinson Whampoa (Europe) Ltd
Richard Wade, National Audit Office
Peter Campbell, British Chambers of Commerce
Mike Bryan, Gingco Tree Investment Ltd
Jerome Munro-Lafon, URS
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