MacRoberts and Geldards team up to sponsor Financing UK Infrastructure
Leading Law firms MacRoberts LLP and Geldards LLP – joined forces last week to co-sponsor Partnership Bulletin’s annual Financing UK Infrastructure. Taking place in Edinburgh, the leading procurers of some of the UKs biggest infrastructure projects met up to discuss the key developments in the market over the past year and what the next year will bring.
The main conference enjoyed talks by Keith Brown (Cabinet Secretary for Economy, Jobs and Fair Work) Barry White (Chief Executive of Scottish Futures Trust) and Shona Henderson (Head of Public Private Partnerships Infrastructure and Projects Authority.)
Some key findings at the conference found that private finance is a financing option still available for infrastructure – particularly for well-developed, robust, projects. Further guidance on the accounting treatment of PPP/NPD assets under ESA10 is expected by the end of September. Governments (both central and devolved) will be considering carefully its impact on the “additionality” that private finance can offer. There are also some notable, major PPPs being developed for market – for example the Velindre Cancer Centre redevelopment in Wales.
It was also confirmed that The UK Chancellor’s Autumn Statement (23 November) should set out plans for further infrastructure investments and use of PPPs. Also keenly awaited are the UK Government’s proposals for the UK’s future EU relationship following the EU Referendum (Brexit). If a number of EU infrastructure funders opt to fund projects outside the UK, the quantity and pricing of private finance for UK infrastructure will be affected.
Duncan Osler, Head of MacRoberts Public Sector Group said,
“We were delighted to co-sponsor this excellent event with Geldards. It was a brilliant opportunity to hear from key people in the industry and discuss key developments. Geldards is a firm that shares the same values as MacRoberts and brings the same in depth projects experience to the table as we do.”
Rod Munro, Head of the MacRoberts Projects Group said,
“The UK & Scottish Government know the importance of infrastructure investment in the different economic time – especially with Brexit looming. Their plans will become clearer soon and we look forward to supporting our clients who will be involved in delivering those plans.”
Tony Norris Construction and Infrastructure partner at Geldards said;
“The conference provided valuable information for industry professionals on UK-wide infrastructure, with updates on projects and programmes in England, Scotland and Wales. Geldards and MacRoberts have been the perfect fit as sponsors of this year’s event, demonstrating both firms have a reputable knowledge and offering nationwide.”
ABOUT MACROBERTS LLP
MacRoberts LLP is one of Scotland’s leading commercial law firms with over 150 years of experience in the legal sector. The firm maintains strong links within the Scottish economy, working with large private and public companies, small and medium-sized enterprises, entrepreneurs and owner-managed businesses, banks and financial services institutions, public sector bodies, charities and all levels of government.
ABOUT GELDARDS LLP
Established over 150 years ago, Geldards has developed a strong and successful business as a partnership of talented individuals. With over 300 staff based in the Midlands, Wales and London, Geldards is a full service law firm providing high quality practical legal advice to private and public companies, local authorities, public bodies, charities and government agencies as well as private individuals.
Geldards believes that the best advice and solutions come from not just understanding the intricacies of the law, but also from having an in-depth knowledge of clients’ business and the industries they operate within. The firm structures its approach to the management of client relationships to provide long term commitment and collaboration, and regularly provides support in partnership with other professionals, financiers and investors.