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£12bn capitalisation confirmed for Leeds-based Infrastructure Bank
Creation of the UK’s first Infrastructure Bank will unite the private sector and local government in a shared mission to accelerate investment in the country’s infrastructure, according to chancellor Rishi Sunak.
During his Budget speech, Sunak discussed the importance of rebuilding the economy post-Covid and said: “This future economy won’t be created in any one Budget but today we lay the foundations. Our future economy needs investment in green industries across the UK, so I can announce today the first ever UK Infrastructure Bank.
“Located in Leeds, the bank will invest across the UK in public and private projects to finance the green industrial revolution and starting this spring with an initial capitalisation of £12bn and we expect it to support at least £40bn in total investment in infrastructure.”
Entries open for the 2021 British Construction Industry Awards
Carbon net zero, industry transformation and better design outcomes are among the achievements that will be celebrated at this year’s British Construction Industry Awards (BCIA).
The event, which is jointly hosted by NCE and the Institution of Civil Engineers, has again joined forces with the Nation Infrastructure Commission for the Design Principles Award and Infrastructure Projects Authority is backing the Industry Transformation and Innovation Champion category.
Also new for 2021 is the Carbon Net Zero Initiative of the Year that recognises efforts to reduce embodied carbon and emissions during delivery of a project.