Follow UK immigration and UK economic trends: The UK government may allocate £33 billion (approximately $53 billion) as guarantees for infrastructure projects, with more than half of these funds designated for the energy sector.
The UK Treasury stated in an email on October 22 that 40 projects, including roads, railways, and energy, have been selected as eligible for government guarantees. Relevant departments will proceed with further discussions, assessments, and due diligence.
Chief Secretary to the Treasury Danny Alexander stated, "Improving our infrastructure means improving our global competitiveness, which helps boost national economic growth and create jobs. I hope today's announcement will encourage more industries to consider how they can take advantage of these government guarantees."
The UK Treasury stated that under this program, the government will issue up to £40 billion in guarantees.
In April, the government already provided a £75 million guarantee for a £700 million financing package for coal-fired power plant operator Drax Group PLC.
