Richard Threlfall, KPMG’s UK head of infrastructure, building and construction comments on the Government’s announcement to earmark a GBP500m funding pool to help develop local infrastructure across the country:
“We welcome the Government’s announcement of a £500m local infrastructure fund, in particular the government’s intention to allow the funding to leverage private capital.
“This is the model that KPMG developed with the Manchester authorities to create the Greater Manchester £1.5bn Transport Fund, and which we are now seeking to replicate in West Yorkshire.
“However, if the Government is to maintain its fiscal austerity measures then drawing in private capital into infrastructure projects is the only way to plug the ever-widening funding gap.
“The biggest challenge is making this all happen fast. Therefore, the Government needs to create the right conditions for such investment to take place. Hence, a short-term stimulus package would need to be focussed on capital maintenance and driving growth in the housing market.”
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KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with nearly 11,000 partners and staff. The UK firm recorded a turnover of £1.6 billion in the year ended September 2010. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 150 countries and have more than 138,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.