UK infrastructure bank may be needed after Brexit

This letter restates some of the key conclusions and recommendations contained in the report, calling on the Government to negotiate a future relationship with the European Investment Bank and to consider establishing a UK infrastructure bank after Brexit.

Metadata

Provider:

UK Parliament

URL:

http://www.parliament.uk/business/committees/committees-a-z/lords-select/eu-financial-affairs-subcommittee/news-parliament-2019/eib-follow-up-letter-220120/

Retrieved on:

Friday, January 24, 2020

Information

Tags:

European Union, Economy of the European Union, European Investment Bank, Brexit, EIB, Brexit divorce bill, Brexit negotiations

Summary

Key Points:

This letter restates some of the key conclusions and recommendations contained in the report, calling on the Government to negotiate a future relationship with the European Investment Bank and to consider establishing a UK infrastructure bank after Brexit.
Given the important role that the European Investment Bank (EIB) has played in supporting UK infrastructure investment, the Committee says that the UK should negotiate a future relationship with the EIB.
"The Government should also give serious consideration to establishing a UK infrastructure bank, which could play a key role in supporting investment in UK infrastructure.
This could fill the gap left by losing access to the European Investment Bank and support the financing of key UK infrastructure after Brexit.