Local MP Jesse Norman has expressed his delight at the launch of the new UK Infrastructure Bank.

The new bank was formally launched last week at its headquarters in Leeds by Rishi Sunak, the Chancellor of the Exchequer. It follows six months of intensive work by Jesse and officials at HM Treasury, where he is Financial Secretary and responsible for the UK's National Infrastructure Strategy.

Commenting on the launch, Jesse said

“The new UK Infrastructure Bank has the twin goals of supporting levelling up across the country, and our transition as a country to Net Zero. It will have starting capital of £12 billion, and aims to unleash some £40 billion in private investment in infrastructure.

“Sustainable and inclusive economic growth is a huge priority for Herefordshire, for Hereford and for Ross-on-Wye as well as for the UK as a whole.  

“The Bank has been set up to operate independently of government, and I very much hope that Herefordshire Council, the city council, Ross Town Council and the other town councils, local businesses and our educational institutions will look at the scope to raise long term investment and loan capital from the Bank.”

Photo: Jesse with Chris Grigg, Chair, and John Mahon, Interim CEO of the UK Infrastructure Bank at the launch last week.