21
The Bank has not reached a decision on how it will fund its advisory function.
Conclusion
The Bank has not reached a decision on how it will fund its advisory function. Decisions on funding will be important given the Bank’s expectation that demand will be significant, and that it will not have the resource to cover all requests effectively.57 The Bank told us it has considered models for charging local authorities to use the advisory service but as things stand, it does not intend to charge directly. It told us this was because local authorities are already resource-constrained, and it is more likely that the Bank’s interventions will be successful if it can help local authorities as “cheaply and efficiently” as possible. The Bank indicated that the revenue generated from its local authority lending will probably end up paying for the advisory function.58 Engagement with government departments
Government Response
A response document is linked to this report, dated 12 April 2023. Response attribution to this conclusion has not been verified. Read the response document.
Source
Committee
Public Accounts Committee
Report
Thirty-Fourth Report - The Creation of the UK Infrastructure Bank
25 Jan 2023
HC 45
Addressee Bodies
HM Treasury
Timeline
Recommendation age
3.6 yrs
Report published
25 Jan 2023