PARLIAMENTARY WRITTEN QUESTION
Infrastructure: Finance (22 March 2021)

The UK has historically underinvested in infrastructure and this government is committed to addressing that. Spending Review 2020 committed £100 billion of capital investment in 2021-22, a £30 billion cash increase compared to 2019-20. It also set out long-term settlements for key infrastructure programmes, with record levels of investment in strategic roads, broadband and flood defences.

At Budget, the government announced further details of the UK Infrastructure Bank. The Bank, which will partner with the private sector and local authorities to increase infrastructure investment, will begin operating later in the spring. It will have an initial £12 billion of debt and equity capital and be able to deploy £10bn of government guarantees.  We expect it to use this to crowd in private investment to support more than £40bn of infrastructure investment overall.

Further details of the government’s infrastructure investment plans can be found under the infrastructure chapter of the Plan for Growth and in the National Infrastructure Strategy.