Welsh seek private infra investment
5 October 2012
The Welsh Assembly government has suggested it is open to developing public-private partnerships to help increase infrastructure investment in the country.
Welsh Finance Minister Jane Hutt said the Welsh government is “actively developing innovative ways of financing infrastructure investments”, already working closely with the private sector to develop new approaches.Earlier this week, Hutt unveiled an additional £175m of capital investment in the Welsh government’s draft Budget for 2013-14 and said she is keen to bring in more investment through developing “new opportunities and partnerships”.
Gerry Holtham, infrastructure adviser to the Welsh Assembly government, said that although the country’s approach is to primarily fund public infrastructure through direct capital expenditure, there is “a strong economic and value for money case for boosting resources available for investment”.
“We are actively exploring the development of new, innovative mechanisms to attract private sector investment into public infrastructure in the coming years,” he added. “This includes development of ‘non-dividend’ vehicles to finance and deliver public infrastructure projects in Wales.”
