Creation of the UK Infrastructure Bank

Public Accounts Committee Closed Inquiry
Opened: 12 Oct 2022 Closed: 13 Apr 2023 Parliament page
In June 2021, HM Treasury launched the UK Infrastructure Bank (UKIB) with the aim of encouraging private finance alongside public investment to achieve two strategic objectives: helping to tackle climate change and supporting regional and local economic growth. UKIB is a publicly owned company with the Treasury as sole shareholder. … Read more
5 Recommendations
18 Conclusions
1 Report
1 Oral session
3 Letters
1 Event
Activity timeline 7 events
12 Apr
2023
Report published
23 Feb
2023
Correspondence
25 Jan
2023
Report published
22 Nov
2022
Correspondence
8 Nov
2022
Correspondence
7 Nov
2022
Oral evidence
7 Nov
2022
Formal meeting (oral evidence session) · The Grimond Room, Portcullis House
Oral evidence sessions 1 session
7 Nov 2022
View on parliament.uk
Creation of the UK Infrastructure Bank
David Lunn · Department of Business and Trade James Bowler CB · HM Treasury John Flint · UK Infrastructure Bank Philip Duffy · Environment Agency Tim Jarvis · Ofgem
Title HC No. Published Items Response
Thirty-Fourth Report - The Creation of the UK Infrastructure Bank HC 45 25 Jan 2023 23 Responded
Recommendations & Conclusions
2 results
Clear
10 Conclusion Deferred
Thirty-Fourth Report - The Creatio…
The Bank’s capacity to make complex and innovative deals is limited by the lack of...
The Bank’s capacity to make complex and innovative deals is limited by the lack of suitably qualified staff members. The Bank has worked with Treasury to complete recruitment to key senior leadership positions that were not filled at launch. At … Read more
Government Response
The Bank will provide the requested information to Parliament by the end of September 2023 and in March 2024 in addition to the information on the Bank’s operations which is already provided to Parliament through the Annual Reports and Accounts (ARA) process.
HM Treasury
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11 Conclusion Deferred
Thirty-Fourth Report - The Creatio…
The Bank told us that, as a result of having insufficient skills and expertise, it...
The Bank told us that, as a result of having insufficient skills and expertise, it has only entered into relatively low risk, more straightforward investment deals, as those are the only deal types it is comfortable delivering with the available … Read more
Government Response
The Bank will provide the requested information to Parliament by the end of September 2023 and in March 2024 in addition to the information already provided through the Annual Reports and Accounts (ARA) process.
HM Treasury
View details
Government Response AI assessment · 23 of 5 classified
Accepted 8
Acknowledged 12
Deferred 2
Not Addressed 1
Total 5 recs + 18 conclusions
Correspondence 3 letters
23 Feb 2023 Correspondence from Andrew Griffith MP, Economic Secretary to the Treasury, HM Treasury, re update on the UK Infrastructure Bank’s (UKIB), dated 2 February 2023
Parliament page
22 Nov 2022 Correspondence from John Flint, Chief Executive Officer, Infrastructure Bank, re a profile of the banks interim staff, dated 17 November 2022
Parliament page
8 Nov 2022 Correspondence from John Flint Chief, Executive Officer, Infrastructure Bank, re update on progress, dated 1 November 2022
Parliament page