ICE responds to Government guarantees scheme
Commenting on the Government’s new UK Guarantees scheme aimed to accelerate major infrastructure investment, Institution of Civil Engineers (ICE) Director General, Nick Baveystock, said:
“At last Government is using its balance sheet to provide guarantees to get infrastructure projects moving. But, as ever, the key is to see actual delivery of projects not just talk about how they might be facilitated. Here the Government’s record is less good. I hope the criteria for accessing the guarantees are not made excessively difficult - and also that, if the scheme is not having the desired impact, Government takes rapid action to review the criteria.
"The delivery of our nation’s infrastructure needs driving forward in partnership between Government and industry. Both need to demonstrate leadership and commitment, but Government needs to understand that inspiring confidence in a credible infrastructure programme must emanate from Whitehall.”
The Treasury earlier announced the new UK Guarantees scheme which will provide government backed loans for infrastructure projects struggling to secure funding during the current recession.