The following article is the first of several excerpts that will appear in i3 from U.K. Infrastructure Investment and Finance from a European and Global Perspective. The report with footnotes and references is available at www.georginderst.com or the SSRN https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2972704.

Introduction

This study provides an overview of the financing of infrastructure investment in the United Kingdom in a European, global and historical context. It evaluates the structure and development of private infrastructure finance in the United Kingdom, and makes comparisons with other advanced economies in the European Union and the “G7+” (i.e., the G7 countries plus Australia). This broad, international perspective on a country at a critical point in its history yields useful insights for both policy makers and investors.

That there should be more and better infrastructure in the United Kingdom is widely agreed. H