University of Northampton (UK Guarantee)

Tuesday 25th November 2014 Written Statements

[The Chief Secretary to the Treasury (Danny Alexander)]

The UK Guarantees scheme was announced in July 2012 with enabling legislation, the Infrastructure (Financial Assistance) Act 2012, receiving Royal Assent on 31 October 2012. The scheme provides a sovereign-backed guarantee to help infrastructure projects raise debt finance. Guarantees for up to £40 billion in aggregate can be offered under the initiative.

The Government are confirming that they have approved a guarantee for £291.5 million to the University of Northampton for the construction of its new Waterside campus.

The Government will report to Parliament on the financial assistance given in line with the requirements set out in the Infrastructure (Financial Assistance) Act 2012.