Friday, July 3, 2020

East Mids sees renewables as key infrastructure investment target

Over half of people in the East Midlands see investment in renewable energy as very important, with investment in airports considered the least important area.

The findings come from a new survey conducted by YouGov on behalf of GLIL Infrastructure, a £1.8 billion investment fund backed by UK local government pension schemes.

The study surveyed 2,015 people from across Britain, including 180 in the East Midlands, on their feelings towards infrastructure investment.

Respondents were asked to identify how important each type of infrastructure was to them, including road, rail, airports, energy, renewable energy, utilities and telecommunications.

Although the majority of respondents in the East Midlands felt that infrastructure investment in all of these industries was important, there were some clear differences.

Investment in renewable energy was described as ‘very important’ by the largest proportion of respondents (57%), followed by utilities (41%).

Respondents were least likely to consider investment in airports to be very important, with 38% describing investment in this area as either ‘not very important’ (31%) or ‘not at all important’ (7%).

60% of East Midlands respondents said the UK Government when asked where they think the majority of UK infrastructure investment should come from.

Outside of the Government, private investors (5%) are who people in the East Midlands think should provide the biggest contribution to investment, followed by local government pension schemes (2%).

Almost a third (30%) said they were unsure where the majority of UK infrastructure investment should come from.

“The UK has extensive infrastructure ambitions and now, even amidst the COVID-19 pandemic, there is still a strong case for infrastructure investment as the economy looks to get back on track and prepare for the future,” said Ted Frith, COO at GLIL Infrastructure.

“The current lockdown means that international travel is all but impossible, however the commitment to sustainability and the environment remains firm.

“Although the majority of people think the UK Government should pay for infrastructure, the Government has other priorities right now, with money rightly being directed to healthcare and supporting businesses and people from across the economy.

“GLIL works with local government pension schemes all over Britain and, along with the private sector, now is the time to step up and help fill the infrastructure funding gap as part of the nation’s recovery.”

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