Infrastructure review seeks better private finance model

19/03/2019
Chris Ames

The Government has published a consultation on how best to support private investment in infrastructure, including an alternative to PFI.

The consultation document states: ‘Government will not be seeking a like-for-like replacement for these models.'

'The Government is open to exploring new ways to use private finance in government projects, but the benefits brought by private finance must outweigh the additional cost to the taxpayer of using private capital, and the government will not consider proposals demonstrating the same characteristics as PFI or PF2.’

The tunnel for the A303 at Stonehenge was due to be financed privately before the chancellor's moratorium

In the foreword, Robert Jenrick MP, exchequer secretary to the Treasury, wrote: ‘The infrastructure we are developing needs to be adaptable to fast growing technological change, from autonomous vehicles and electric cars to the next generation of broadband and harnessing the power of data to improve delivery and maintenance.'

He added: 'Both the public and private sectors will need to play their part.’

Mr Jenrick noted that later this year the Government will publish a comprehensive National Infrastructure Strategy, which he said will respond in detail to the National Infrastructure Assessment, published by the National Infrastructure Commission (NIC).

The consultation document states this review will inform both the strategy and the 2019 Spending Review.

One section looks at the existing tools used to support investment in infrastructure, noting that the UK Government has also historically used private investment to deliver economic and social infrastructure projects through the PFI and PF2 models but that at the Budget it announced it would no longer use these models for new projects.

The document also sets out the role for government in supporting financing where it is ‘in line with broader policy objectives and offers value for money for the taxpayer’, describing the tools the Government currently uses to support financing directly, including the UK Guarantees Scheme (UKGS) and co-investment funds for new technologies.

It states: ‘The government is seeking views on whether, looking to the future, it should expand, reduce or change the use of these tools.’

The document also looks at the institutional options for delivering government support for infrastructure finance. It notes that existing tools such as the UKGS and coinvestment funds are delivered by the Infrastructure and Projects Authority and that the UK’s relationship with the European Investment Bank (EIB) will change as it leaves the EU.

It also acknowledges the House of Lords European Union Committee an the NIC recommended that if access to the EIB is lost, the Government should consider creating new institution.

The document states: ‘The government is seeking views on whether reform of the existing institutional structure is needed, and the costs and benefits of changing the current approach.’

All interested parties’ are invited to respond to the consulation by 5 June 2019.

Highways jobs

Team Leader - Highways

Milton Keynes Council
£50,941 - £54,228
Milton Keynes is a place of opportunity. Milton Keynes
Recruiter: Milton Keynes Council

Highways Traffic Development Engineer

Milton Keynes Council
£34,788 - £38,813
Milton Keynes is a place of opportunity. Milton Keynes
Recruiter: Milton Keynes Council

Assistant Contracts Engineer

Milton Keynes Council
£34,788 - £38,813
We are looking for an Assistants Contracts Engineer to be a key senior member of our Contracts Team managing... Milton Keynes, Buckinghamshire
Recruiter: Milton Keynes Council

Team Leader - Streetworks

Milton Keynes Council
£39,782 - £43,662
We are looking for a Team Leader to lead our Streetworks Team. Milton Keynes, Buckinghamshire
Recruiter: Milton Keynes Council

Traffic Project Officer

City of York Council
£26,875 to £29,783 per annum
City of York Council have a great opportunity for a Projects Officer to join our busy Traffic Team. York, North Yorkshire
Recruiter: City of York Council

Traffic Management Leader

City of York Council
£35,500 to £40,710 per annum
City of York Council have an exciting opportunity for an experienced transport professional to lead our Traffic Team. York, North Yorkshire
Recruiter: City of York Council

Senior Technician (Structures)

Milton Keynes Council
£29,636 - £33,779
With several future projects coming up this is an exciting time for an experienced Senior Technician to join our team.  Milton Keynes, Buckinghamshire
Recruiter: Milton Keynes Council

Senior Engineer - Development Management

Milton Keynes Council
£44,632 - £49,298
We are looking for a Senior Engineer to work within our Development Management Team. Milton Keynes, Buckinghamshire
Recruiter: Milton Keynes Council

Principal Transport Officer (Policy)

St. Helens Metropolitan Borough Council
£38,813 To £40,760 per annum
This is an exciting opportunity for an energetic and motivated individual to drive forward transport policy to... St Helens, Merseyside
Recruiter: St. Helens Metropolitan Borough Council

Road Safety Officer (Education and engagement)

Milton Keynes Council
£29,636 - £33,799
We are looking a Road Safety Officer to deliver our education and engagement programme across Milton Keynes. Milton Keynes, Buckinghamshire
Recruiter: Milton Keynes Council

Road Safety Engineer

Milton Keynes Council
£34,788 - £38,813
We are looking for an experience Road Safety professional to join our team to process and analyse collision and casualty data and to... Milton Keynes, Buckinghamshire
Recruiter: Milton Keynes Council

Development Management Engineer

Warwickshire County Council
£37,849 - £39,782 per annum
The successful applicant for this post will be capable of taking the lead on work within... Warwick, Warwickshire
Recruiter: Warwickshire County Council

Project Officers

Buckinghamshire Council
£29121 - £38881 per annum
OverviewCareer graded posts 5-7£29,121 - £38,881 per annumThis is your chance to make a lasting impact on our county. From developing the connected tr England, Buckinghamshire, Aylesbury
Recruiter: Buckinghamshire Council

Permit Coordinator

Milton Keynes Council
£29,636 - £33,799
We are looking for a Permit Coordinator to work within our Streetworks Team. Milton Keynes, Buckinghamshire
Recruiter: Milton Keynes Council

Highways Liaison Officer

Milton Keynes Council
£29,636 - £33,799
We are looking for a Highways Liaison Officer to join our Communications and Liaison Team. Milton Keynes, Buckinghamshire
Recruiter: Milton Keynes Council

Clerk of Works

Milton Keynes Council
£29,636 - £33,779
We are looking for a Clerk of Works to join our expanding team, supporting the Senior Engineers to... Milton Keynes, Buckinghamshire
Recruiter: Milton Keynes Council

CCTV Control Room Supervisor

Sandwell Metropolitan Borough Council
£24, 313 - £28, 785 pro rata
We are looking to recruit a supervisor to become part of the management team for our highly successful CCTV Control Room. Sandwell, West Midlands
Recruiter: Sandwell Metropolitan Borough Council

Chair of the Board of Directors - Norwich City Services

Norwich City Council
£10,000 per annum
Join Norwich City Services Ltd and transform the way we look after our city and our people. Norwich, Norfolk
Recruiter: Norwich City Council

Team Leader

Buckinghamshire Council
Negotiable
OverviewThis is your chance to make a lasting impact on our county. From developing the connected transport networks of the future and driving sustain England, Buckinghamshire, Aylesbury
Recruiter: Buckinghamshire Council

Commercial Vehicle Technician

Chelmsford City Council
£30,000 per annum
We are seeking a fully trained HGV technician to work as part of the team who maintain the Council's fleet to the highest standards.  Chelmsford, Essex
Recruiter: Chelmsford City Council

Highways on Fridays

Register now!

Latest Issue

latest magazine issue

 

ADEPT: Past and present

Highways England: Present and future

Mott MacDonald: Urban realm of the future

View the latest issue

Latest Video