Published: 15th May 2019

A leading think tank has called on the government to create a ‘British Investment Bank’ to fund infrastructure projects and improve regional productivity. In a new report out today, entitled Hitting Reset – a case for local leadership, Localis calls on ministers to it create its own version of the European Investment Bank after the UK leaves the EU. The European Investment Bank is one of the world’s largest funders of energy, housing and large-scale infrastructure projects. The report argues that leaving the European Investment Bank provides an opportunity to develop a system, which ‘moves the UK away from very targeted initiatives’, where investment centres on the ‘improvement of transport links to London’, or a ‘never-ending succession of bidding for pots’. Instead, the report says a British replacement has the potential to be far more valuable than the proposed UK Shared Prosperity Fund, which ‘simply swaps Brussels for Whitehall in … (To read the full article, subscribe below)