The UK government has named a panel of 20 private sector industry figures to advise on infrastructure finance as it leaves the EU.
The panel includes Tara Davies, head of European infrastructure at KKR, Mark Dooley of Macquarie and head of its Green Investment Group and Neil King, managing director of infrastructure at CPPIB, Tom Sumpster, head of infrastructure at Legal & General and Darryl Murphy, head of infrastructure debt at Aviva Investors. In addition, the panel also includes several banking figures, pension groups such as Australian Super and the Local Pensions Partnership and public sector bodies.
It will advise the Treasury as it looks to “ensure the government continues to have the right tools in place to support private infrastructure investment as the UK leaves the EU,” the government said in a statement.
The panel is part of the Treasury’s Infrastructure Finance Review, which was launched earlier this year. The review is looking at how private sector investment in infrastructure can be supported without the presence of the European Investment Bank, from which British companies and projects were one of the largest beneficiaries of before the Brexit vote in 2016. While funding from the bank that year to the UK reached €6.7 billion, 2017 and 2018 both failed to reach €2 billion.
“The government is keen to maintain momentum, and in this context, is reviewing both its existing set of tools for supporting infrastructure finance, and the way they are delivered,” a consultation document for the review states.
“The government is actively exploring options for a future relationship with the EIB Group, and these options will be explored as part of broader negotiations on the UK’s future relationship with the EU,” it added, although the arrival of a new prime minister could change this situation.