ALTERNATIVE FUNDING
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Just before the cuts were unveiled, Business Secretary Vince Cable told delegates at the Logistics Leaders annual lunch that the government would have to look at alternative ways of funding infrastructure projects as it could not afford them.
"British infrastructure does not work brilliantly and for a mixture of political, economic and environmental reasons, decisions have been made which you may not like: he told senior industry professionals.
But infrastructure is essential for business and we are trying to mobilise capital to get some big infrastructure projects going.
"There are vast amounts of money locked up in institutionally invested pension funds that are looking for a safe and steady rate of return. Ideally it would be good to have a vehicle to channel that money into infrastructure. The government is not going to fork out for it because we cannot afford it. We are going to have to look at new ways of doing this."