Source · Select Committees · Public Accounts Committee
Recommendation 19
19
Acknowledged
The Bank’s functions include providing an expert advisory service to help local authorities and other...
Conclusion
The Bank’s functions include providing an expert advisory service to help local authorities and other project sponsors to develop and finance infrastructure projects.53 The Bank told us that establishing this service is not straightforward, compared to its local authority lending function which is already operational. The Bank has three advisory function pilot projects up and running with some larger local authorities—Manchester, West Yorkshire, and Bristol—covering zero emission buses and heat networks.54
Government Response Summary
The government and the Bank welcome the Committee’s recommendation and will provide information later in Spring 2023 after completion of the pilot projects. The Bank will share insights from pilots and engagement with local authorities and is already engaged with a range of local authorities for its next wave of advisory work.
Government Response
Acknowledged
HM Government
Acknowledged
4.1 The government agrees with the Committee’s recommendation Target implementation date: Spring 2023 4.2 The Bank welcomes the Committee’s recommendation and would be pleased to provide the requested information later in Spring 2023 after completion of the pilot projects in Bristol, Greater Manchester, and West Yorkshire Combined Authority. These pilots play an important role in helping the Bank develop its offering for local authorities, a key part of the Bank’s remit, and ensures that its support is appropriately reflective of local authority needs. 4.3 The Bank will share the key insights developed through the pilots and its engagement with a range of local authorities to date. It is already engaged with a range of local authorities for its next wave of advisory work, to be announced shortly. Recognising that the needs of different size local authorities will vary, the Bank has carefully considered how it can deliver effectively across this spectrum. For instance, it already offers advisory support to smaller local authorities through its partnership with the Green Heat Network fund and plans to continue this model with future grant programmes. This will allow government to leverage investment in local infrastructure and ensure that projects are set up for success.