The first ever meeting of the British Infrastructure Council was held today in London, marking a significant milestone in improving the UK’s infrastructure and economic landscape. The event, chaired by the shadow chancellor, brought together executives from major financial institutions such as Lloyds, HSBC (LON:HSBA), Santander UK, Phoenix, Fidelity and BlackRock (NYSE:BLK). Discussions focused on promoting public-private partnerships to boost investment in national infrastructure that is expected to boost productivity and create jobs.
Earlier today, Prime Minister Rishi Sunak hinted at possible corporate tax cuts if inflation can be halved by 2023. The move comes as the Conservative Party is redoubling its efforts to regain ground in the face of the Labor Party’s lead in the polls ahead of the next general election. Conservatives view tax incentives as an essential part of their win-back strategy.
At the council meeting, Labor Party representatives highlighted the importance of developing innovative financing models, particularly to support clean energy projects and other infrastructure initiatives. The aim is to align investors’ actions with the government’s strategic priorities, which is expected to stimulate economic growth and expand employment opportunities.
The convergence of political and financial leaders within the council signals a collaborative approach to tackling key national challenges. By exploring opportunities for public-private partnerships, the UK aims to unlock private sector capital and expertise to achieve its infrastructure ambitions, while addressing environmental concerns and improving long-term economic prospects. term.
This article is originally published on fr.investing.com