» National Wealth Service Community Infrastructure
In 2010 The National Wealth Service developed a viable alternative to PFI which aimed to use the large pools of capital that are available in pension funds, insurance companies and other financial institutions to provide socially responsible investment that could provide the funding in the UK to develop critical community infrastructure projects in the areas of Care, Education, Health and Housing, with a Community Dividend provided by the utilisation of Renewable Energy strategies.
The proposition was that The National Wealth Service funds and Local Authorities would own the assets, with Local Authorities, the Government or the NHS signing long term leases for the use of the buildings. Repayments would be RPI + 0.5% (capped at 5% in any one year), which would ensure that contracts were more agreeable than under many existing PFI schemes.
Local and Central Government would have full control over planning, design and the use of any facilities with The National Wealth Service and its Business Partners providing procurement and feasibility experience to ensure high-quality building specifications and prevent excessive charges. Open book accounting throughout the procurement process and the lifetime of the lease ensured complete transparency.
Investing in FCA registered funds would achieve a fair return investment based on an RPI-linked income that was around 200 basis points above the equivalent government-issue index-linked bonds (Gilts), usually over a 25 year period, with the stability offered by a Local Authority covenant.
Our investment solutions were highly customised, enabling support specific infrastructure projects which were local to the community where your investors or pension fund contributors live and were supported by many funds.
The Outcome in 2014, after 4 years of work, was that after meetings with several Government Departments, the Treasury and Government Ministers, the then Chief Secretary to the Treasury and his Special Advisers decided not to go ahead with the creation of a National Wealth Service to alleviate the chronic need for Community Infrastructure, A CHANCE FOR TRANSFORMATIONAL CHANGE WASTED.
AS WE APPROACH ANOTHER GENERAL ELECTION IN 2017 THE CREATION OF “THE NATIONAL WEALTH SERVICE” SHOULD BE PLACED FIRMLY BACK ON THE AGENDA AS THE CONDUIT FOR COMMUNITY INFRASTRUCTURE IN THE UK.
To find out more call Gary Walker on +44 (0) 7771 815 492 or email firstname.lastname@example.org