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Select Committee · Public Accounts Committee

Creation of the UK Infrastructure Bank

Status: Closed Opened: 12 Oct 2022 Closed: 13 Apr 2023 5 recommendations 18 conclusions 1 report

In June 2021, HM Treasury launched the UK Infrastructure Bank (UKIB) with the aim of encouraging private finance alongside public investment to achieve two strategic objectives: helping to tackle climate change and supporting regional and local economic growth. UKIB is a publicly owned company with the Treasury as sole shareholder. The Treasury has provided for …

Clear

Reports

1 report
Title HC No. Published Items Response
Thirty-Fourth Report - The Creation of the UK Infrastructur… HC 45 25 Jan 2023 23 Responded

Recommendations & Conclusions

1 item
14 Conclusion Thirty-Fourth Report - The Creation of … Not Addressed

The Bank recognises there could be tensions between its two policy objectives.37 For example, there...

The Bank recognises there could be tensions between its two policy objectives.37 For example, there is a risk that a project could promote local growth but be harmful to the environment. The Bank told us that for any investment that is primarily focused on regional and economic growth, its needs …

Government response. The government repeats the committee's conclusion.
HM Treasury

Oral evidence sessions

1 session
Date Witnesses
7 Nov 2022 David Lunn · Department of Business and Trade, James Bowler CB · HM Treasury, John Flint · UK Infrastructure Bank, Philip Duffy · Environment Agency, Tim Jarvis · Ofgem View ↗

Correspondence

3 letters
DateDirectionTitle
23 Feb 2023 — Correspondence from Andrew Griffith MP, Economic Secretary to the Treasury, HM …
22 Nov 2022 — Correspondence from John Flint, Chief Executive Officer, Infrastructure Bank, r…
8 Nov 2022 — Correspondence from John Flint Chief, Executive Officer, Infrastructure Bank, r…