The ICE is asking the government to look into whether a National Infrastructure Investment Bank is viable in the UK, as part of its budget recommendations.
A National Infrastructure Investment Bank, where public money is complemented by private funds raised from the issuing of bonds, has been proposed in the US by President Obama
“The Manchester waste PFI was shored up by the government which we support in the short term [as it get construction going], but we need an alternative in the long term,” said ICE head of policy Andrew Crudgington. “PFI is supposed to transfer the risk to the private sector.”
The Scottish government looked at the issuing of bonds to raise additional funding as part of its proposed alternative to PFI, the Scottish Futures Trust. However it lacked the constitutional powers to make the fiscal arrangements