On Friday, 3 March 2017, a delegation of economists from CEPA’s infrastructure team took part in a discussion with around 25 key individuals involved in the financing of major projects.
Led by Mark Cockburn (pictured above) CEPA’s managing director, the CEPA team was invited to present the findings of a study the firm undertook for the NIC on the state of infrastructure financing. Attending the event, which was chaired by the NIC’s chief economist, James Richardson (pictured below) were representatives from many of the leading institutional investors, the Government and a selection of senior, private sector decision makers.
The discussion centred around the state of infrastructure financing and included lively debate about what government support might be appropriate in different situations, including whether a more systematic approach could help to determine what forms of support should be deployed, and the role played by the European and Green Investment Banks in UK infrastructure financing.
The roundtable was held to support one of the NIC’s core responsibilities to produce a National Infrastructure Assessment once a Parliament. The first NIA, to be published in 2018, will set out the NIC’s assessment of long-term infrastructure need out to 2050 and make recommendations on how best to meet this need. The NIC has commissioned CEPA to explore whether there are any barriers to leveraging private finance into infrastructure projects; and what mitigations are available to overcome them in order to maximise the potential contribution that private financing can make.