Call for written evidence: UK Infrastructure Bank Bill

Aims of the Bill

The aim of the bill is to place the UK Infrastructure Bank on a specific statutory footing. The bill consists of 11 clauses. The bill, and its Explanatory Notes, can be found on the Parliamentary website.

The bill would:

• Set the Bank’s strategic objectives on a statutory footing that would require primary legislation to amend.
• Set out the Bank’s activities and the definition of infrastructure. The bill includes a power for the government to change these definitions by secondary legislation.
• Set out how the government would steer the Bank’s strategy (through issuing a statement of strategic priorities) and how it could intervene to give the Bank directions.
• Set out the type of financial assistance the bank would provide, including clarifying the Bank’s power to lend to local authorities.
• Specify administrative arrangements for the bank including appointments to the Bank’s board and publication of the Bank’s annual reports and accounts.
• Require an independent review of Bank’s effectiveness and impact at least every 7 years.

Follow the progress of the UK Infrastructure Bank Bill [HL]

The UK Infrastructure Bank Bill was introduced to the House of Lords on 11 May 2022. It received its third reading there on 11 July and its first reading in the House of Commons on 12 July. The Bill’s second reading in the Commons was held on Tuesday 1 November 2022.

• Bills before Parliament: UK Infrastructure Bank Bill [Lords]
• Read Explanatory Notes: UK Infrastructue Bank Bill [Lords]
• House of Commons Library Briefing Paper

There will be no oral evidence sessions.

Guidance on submitting written evidence

Deadline for written evidence submissions

The Public Bill Committee is now able to receive written evidence. The sooner you send in your submission, the more time the Committee will have to take it into consideration and possibly reflect it in an amendment. The order in which amendments are taken in Committee will be available in due course under Selection of Amendments on the Bill documents pages. Once the Committee has dealt with an amendment it will not revisit it.

The Public Bill Committee will scrutinise the Bill line by line. The Public Bill Committee is expected to meet on Tuesday 22 November only. You are strongly advised to submit your written evidence as soon as possible.

Your submission should be emailed to scrutiny@parliament.uk

Further guidance on submitting written evidence can be found here.

Image: Parliamentary Copyright