Overview

This bill allows the UK government to provide financial assistance for infrastructure projects. It sets a limit on government spending and requires regular reports to Parliament on the program's finances.

Description

The Infrastructure (Financial Assistance) Bill permits the government (Treasury and Secretary of State) to provide financial aid for various infrastructure projects. This assistance can take many forms, including loans, guarantees, or indemnities, for the acquisition, design, construction, conversion, improvement, operation, and repair of infrastructure.

Types of Infrastructure Covered:

• Water, electricity, gas, telecommunications, and sewerage services
• Railway facilities (including rolling stock), roads, and other transport facilities
• Health and educational facilities
• Court and prison facilities
• Housing

The bill sets a maximum expenditure and liability limit of £50,000 million. This limit can be increased by order, subject to approval by the House of Commons. The Treasury must submit reports to Parliament detailing financial assistance arrangements, expenditures, liabilities, and income. These reports are due annually (or more frequently as necessary).

Government Spending

The bill authorizes a maximum of £50,000 million in government expenditure and liabilities for infrastructure projects. This cap can be raised by a future order from the Treasury, subject to parliamentary approval.

Groups Affected

• Infrastructure providers: Companies and organizations involved in infrastructure projects could benefit from government financial assistance.
• Taxpayers: The bill's spending impacts the overall government budget and may affect future taxation.
• House of Commons: The House of Commons has the right to scrutinize government spending through the required reporting and potential increases in the spending limit.
• Users of infrastructure: The bill could lead to improvements in various services (water, transport, housing, etc.), benefiting citizens across the UK.

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