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23rd February 2018
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Government publishes legislation to help accelerate major infrastructure investment and house building
The Government has published legislation which will enable it to guarantee up to £40 billion of investment in infrastructure, and up to £10 billion in new homes. The Infrastructure (Financial Assistance) Bill gives statutory backing to the UK Guarantees programme announced in July and the housing guarantee schemes also announced last week.
The UK Guarantees scheme has been established to ensure that where major infrastructure projects may struggle to access private finance because of adverse credit conditions they can proceed as planned.
The Government will also use its hard earned fiscal credibility to support the long-term delivery of new rental homes. The Government intends to issue debt guarantees to support the building of new private rented sector and affordable homes.
The Government is expediting the legislation to ensure that it can take forward detailed discussions with eligible commercial parties as soon as possible and subsequently provide suitable forms of guarantee.
The scope of the Bill covers the transport, energy, communications and environmental sectors set out in the National Infrastructure Plan as well as the wider housing sector.
7th September 2012