Today's entry reports on yesterday's announcement
setting up 'UK Guarantees'.
Yesterday, the Chancellor of the Exchequer George Osborne MP
announced the launch of a new initiative to guarantee shortfalls in
infrastructure funding in certain cases. The announcement can
be found here,
and echoes the CBI's call for something similar at the end of
May (in its document with a carrot on the front) reported
here.
There are actually three initiatives. The first one
applies to 'nationally significant infrastructure
projects', but rather than the meaning of that phrase in the
Planning Act 2008, here it means projects identified in the National Infrastructure
Plan produced last November (which is a larger group, and a
little vague in some cases); it can also apply exceptionally
to other projects.
