MMC taskforce also planned but worries remain over Brexit鈥檚 impact
More details about a National Infrastructure Bank and the creation of an MMC taskforce in today鈥檚 budget have been welcomed by construction 鈥� but worries remain about the impact of Brexit on the industry.
The bank, which will be based in Leeds and is in part designed to replace the European Investment Bank (EIB) following the UK鈥檚 decision to leave the EU at the end of last year, is designed to help bankroll a host of local projects previously helped by the EIB.
It will launch with a 拢12bn fund plus a further 拢10bn in guarantees and, according to budget documents, 鈥渨ill draw capital from HM Treasury and be able to borrow from private markets鈥�.
> Also read: Budget 2021 summary: What it means for construction
> Live blog: Budget 2021 as it happened
Chancellor Rishi Sunak said the bank will boost investment and accelerate progress to net-zero carbon, which the chancellor described as a 鈥済reen industrial revolution鈥�.
Sir Robert McAlpine chief executive Paul Hamer said the move was 鈥渧ery good news for construction and the