Report Launch: Credit Where Credit's Due

Investing in local infrastructure to get Britain growing

Author: Localis - Mar 5, 2012

‘Credit Where Credit’s Due’, a major report produced in partnership with Lloyds Banking Group which examines innovative funding mechanisms for local infrastructure, was launched on Monday 5th March. The Secretary of State for Communities and Local Government, Rt. Hon. Eric Pickles MP, was the keynote speaker. Lord Shipley, Government Cities Adviser, Cllr Paul Carter, Leader of Kent County Council and Gershon Cohen, Global Head of Project Finance for Lloyds Banking Group also spoke at the launch. The event was held at our offices in Westminster (map) at 2.30pm.

The Government has indicated its intention to facilitate £250bn worth of much needed infrastructure investment over the next few years. At the same time, by devolving new powers to local government, it has given councils greater ability to shape this process. How they use these powers, with less resource coming from the centre, will be crucial.

This report shows how by taking advantage of new funding options such as Tax Increment Financing, bonds, and Enterprise Zones – allied to more creative use of public assets to build long term partnerships – local government can help to re-energise the economy, from the bottom up. This investment will not only create many thousands of jobs in the short- to medium-term, but will leave behind a legacy of transport, energy, communications and waste infrastructure that will benefit the country for decades to come. In particular, this report highlights how pension funds – both private and public – have a key role to play in supporting infrastructure investment via a new National Infrastructure Bank.

Click here to read the full report.

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