kindly supported by Balfour Beatty, City of London, Morgan Stanley and Nabarro
Local capital investment faces a challenging future: centrally provided capital funding is set to be reduced by nearly half, major investment programmes in schools and hospitals are disappearing and there are likely to be increasing pressures to shift resources to urgent revenue requirements. Yet there is still a continued and pressing need for capital investment across England’s communities. The lessons of the past tell us neglecting these should not be an option. In addition, the increase in the rate of borrowing from the Public Works Loans Board announced in the CSR is forcing local authorities to think more cleverly and openly about where and how they access capital funding.
In this seminar we aim to consider local capital investment as a blank canvass, taking the opportunity of a transition from ‘centralised’ mechanisms such as grant, PFI credits and PWLB borrowing, to consider what a more localist settlement could look like. We will consider how sustainability can be built in to new approaches, and how local authorities can make the most of some emerging sources of investment, such as TIF, land auctions and enterprise zones. The role of the private sector, and how local authorities can maximise their benefits from partnership arrangements, will also be considered.