Infrastructure (Financial Assistance) Bill

Lord Barnett Excerpts

Tuesday 23rd October 2012 Lords Chamber

[Lord Newby]

My Lords, I am delighted to be able to open the proceedings on the Infrastructure (Financial Assistance) Bill. The purpose of the Bill is to help accelerate significant investment in major infrastructure projects and it will increase the number of homes being built and occupied.

Before I set out the main features of this legislation in more detail, I briefly remind your Lordships’ House of the Government’s commitment to delivering a sustainable, private sector-led recovery. This will be possible only by maintaining our credible fiscal stance and so keeping interest rates low. We want to see a recovery that is balanced across industrial sectors and across geographic regions. To achieve this ambition—

[Lord Barnett]

Is this putting into law the loan guarantee scheme?

[Earl Attlee]

My Lords, long experience in this House tells me that the best way of handling these events is to allow my noble friend the Minister to lay out his stall and then noble Lords can ask questions at the appropriate point.