20 Mar 2013 | 02:23 pm |
Commenting on the announcements made by the Chancellor in his Budget today, Kate Orviss, Infrastructure Partner at Pinsent Masons, said: "Today's announcement by the Chancellor yet again started full of promise as he repeated his commitment to the sector. However, it ended up being disappointing notwithstanding the announcement of an additional £3 billion for the sector. The disappointment is that this funding will not be available until 2015-16 and there is a complete lack of clarity over what it will be spent on. This time the real detail will not been revealed until June.
"The Chancellor was right to point out that we are in a global race for investment and jobs. Sadly the lack of real opportunities announced by this Government leaves the UK less and less attractive in the global market.
"The Government claims to see infrastructure as a key element of its growth strategy but has singularly and repeatedly failed to deliver budget after budget. And time is running out as even announcing new major projects now won't deliver growth in the short term.
"Now is the time to start delivering before investors and contractors look to exploit other opportunities. Major British contractors are already looking elsewhere such as India and Sub-Saharan Africa. The drain of experience from the UK will continue if the UK Government delays real announcements on infrastructure projects."
Multinational law firm Pinsent Masons has advised DCC Energy, a division of leading international sales, marketing and support services group DCC plc, on the acquisition of WIRSOL Roof Solutions (WIRSOL), a provider of photovoltaic (PV) and battery storage systems.
Multinational law firm Pinsent Masons has advised M Group Services, the leading provider of essential infrastructure services in the UK and Ireland, on its sale to private equity house CVC.
Multinational law firm Pinsent Masons’ partner Sylvia Tonova and senior associate Chloé De Jager have been appointed as Members of the ICC International Court of Arbitration, as representatives for Bulgaria and South Africa respectively. Both new appointments are for a three-year term set to commence on 1 July 2024.
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