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03/03/2021

Budget 2021: Sunak pledges £12bn for infrastructure bank; publishes prospectus for ‘levelling-up’ fund and announces growth deals

Words: Laura Edgar
Rishi Sunak / Shutterstock_1670260228

Chancellor Rishi Sunak has used his 2021 Budget to promise that the new UK infrastructure bank will be able to deploy £12 billion of equity and debt capital and be able to issue up to £10 billion of guarantees.

It will be headquartered in Leeds, meaning that it will benefit from the city’s position as an “established financial hub with excellent transport links across the UK”, according to the Budget document.Financing support for private sector and local authority infrastructure projects across the UK will be part of its remit, in an attempt to help the government to meet its objectives on the........
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