Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential merits including (a) the built environment and (b) nature in the UK Infrastructure Bank’s mandate.

As set out in its Framework Document, the UK Infrastructure Bank will pursue two strategic objectives: to help tackle climate change, particularly meeting our net zero emissions target by 2050; and to support regional and local economic growth. The Bank will operate across a range of sectors, but will prioritise in particular clean energy, transport, digital, water, and waste;

The Bank’s Policy Design Document sets out that while the Bank’s initial focus will be on climate change mitigation and resilience, the Government will review the case for broadening this to include other areas, such as improving the UK’s natural capital, before bringing forward legislation to put the Bank on a statutory footing.