“Progress in the development of new funding models such as Tax Increment Financing and the pilot for a new Earn Back Model is welcome, as is the news that a second group of pension investors have come forward with proposals for increasing investment in the construction phase of projects. But Government should do more to improve the credibility of its aspirations by publishing an assessment of the level of funding it believes it can realistically secure from all categories of investors and a clear programme of work that will unlock these funds. This would boost investor confidence and encourage further investment.”
Commenting on the energy sector commitments in the Budget, he added:
“Government rightly acknowledges the importance of energy security in the future, so steps to maximise the potential of our domestic resources are welcome. However we must ultimately shift our dependence from fossil fuel generation, so to have a reasonable chance in delivering what the country needs, these steps must be supported with market reforms to make investment in new low carbon supplies, like offshore wind, more attractive and commercially viable.”
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