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EnactedUK Infrastructure Bank Act 2023

OverviewTimeline66Debates11Amendments67

Proposed amendments

67 amendments across 7 provisions

New clauses & schedules 2

Amendment #10004449#10004449No decisionNew clause / schedule
Amendment text
To move the following Clause—
“Future of the Infrastructure Bank

Only the heading is published via the Bills API — the full text of this new clause/schedule is set out in the marshalled Amendment Paper.

Stage
Report stage
Type
AddClauseOrSchedule
Sarah Olney
Amendment #10004472#10004472No decisionNew clause / schedule
Amendment text
To move the following Clause—
“Businesses and bodies the Bank invests in

Only the heading is published via the Bills API — the full text of this new clause/schedule is set out in the marshalled Amendment Paper.

Stage
Report stage
Type
AddClauseOrSchedule
Abena Oppong-Asare

Clause 1 1

Amendment #10000068#10000068WithdrawnAmends text
Amendment text
After Clause 1, insert the following new Clause—
“Regulation
Stage
Committee stage
Type
EditBillBody
Clause
1
Baroness Noakes

Clause 2 46

Amendment #10000069#10000069WithdrawnAmends text
Amendment text
Clause 2, page 1, line 9, at end insert—
“(2A) The statement must also outline how the Bank will, when carrying out its activities, balance the objectives under subsection (3), to ensure its activities do not cause environmental harm.”
Stage
Committee stage
Type
EditBillBody
Clause
2
Lord Tunnicliffe
Amendment #10000070#10000070Not movedRemoves provision
Amendment text
Clause 2, page 1, line 11, leave out from “change” to end of line 13 and insert “and biodiversity loss, including by—
(i) supporting efforts to meet the target for 2050 set out in section 1 of the Climate Change Act 2008 (the target for 2050), or
Stage
Committee stage
Type
DeleteClauseOrSchedule
Clause
2
Lord Tunnicliffe
Amendment #10000071#10000071Not movedRemoves provision
Amendment text
Clause 2, page 1, line 14, leave out paragraph (b) and insert—
“(b) to help increase biodiversity, the growth of nature and the provision of nature based solutions, including by supporting actions to meet environmental targets and environmental improvement plans originating from Part 1, Chapter 1 of the Environment Act 2021,
Stage
Committee stage
Type
DeleteClauseOrSchedule
Clause
2
Lord Teverson
Amendment #10000072#10000072Not movedAmends text
Amendment text
Clause 2, page 1, line 17, at end insert “including the nation’s housing, commercial, industrial and public building stock for the purposes of improving energy efficiency,”
Stage
Committee stage
Type
EditBillBody
Clause
2
Lord Teverson
Amendment #10000073#10000073WithdrawnAmends text
Amendment text
Clause 2, page 1, line 22, at end insert—
“(4A) In carrying out its activities under subsection (4), the Bank must ensure that its activities are undertaken only where there is an undersupply of private sector financing in respect of those activities.”
Stage
Committee stage
Type
EditBillBody
Clause
2
Baroness Noakes
Amendment #10000074#10000074Not movedAmends text
Amendment text
Clause 2, page 2, line 4, at end insert “, the circular economy, and protection of the natural environment.”
Stage
Committee stage
Type
EditBillBody
Clause
2
Lord Tunnicliffe
Amendment #10000168#10000168Not movedAmends text
Amendment text
Clause 2, page 1, line 12, at end insert “and
(ii) to adapt to any current or predicted impacts of climate change identified in the most recent report under section 56 of the Climate Change Act 2008,
Stage
Committee stage
Type
EditBillBody
Clause
2
Baroness Hayman
Amendment #10000169#10000169Not movedAmends text
Amendment text
Clause 2, page 1, line 25, after “including” insert “energy efficiency measures and”
Stage
Committee stage
Type
EditBillBody
Clause
2
Baroness Hayman
Amendment #10000170#10000170Not movedAmends text
Amendment text
Clause 2, page 1, line 22, at end insert—
“(4A) The Bank must not act in relation to a project under subsection (4)(a) to (c) if the project relates to infrastructure that is not inclusive by design.
Stage
Committee stage
Type
EditBillBody
Clause
2
Lord Holmes of Richmond
Amendment #10000171#10000171Not movedAmends text
Amendment text
Clause 2, page 1, line 23, after “technologies” insert “, nature-based solutions”
Stage
Committee stage
Type
EditBillBody
Clause
2
Lord Holmes of Richmond
Amendment #10000172#10000172Not movedAmends text
Amendment text
Clause 2, page 2, line 2, at end insert—
“(ba) energy efficiency and energy security,”
Stage
Committee stage
Type
EditBillBody
Clause
2
Lord Holmes of Richmond
Amendment #10000227#10000227WithdrawnAmends text
Amendment text
Clause 2, page 1, line 22, at end insert—
“(4A) In carrying out its activities under subsection (4) the Bank must ensure that its activities are undertaken in compliance with the following Operating Principles—

The Bills API publishes only the tabling instruction here, not the inserted text itself — the full wording is set out in the marshalled Amendment Paper.

Stage
Committee stage
Type
EditBillBody
Clause
2
Lord Vaux of Harrowden
Amendment #10000273#10000273Not movedRemoves provision
Amendment text
Clause 2, page 1, line 14, leave out paragraph (b) and insert—
“(b) to reduce geographical inequality through supporting regional and local economic growth in areas of economic disadvantage.”
Stage
Committee stage
Type
DeleteClauseOrSchedule
Clause
2
Lord Ravensdale
Amendment #10000379#10000379Not movedAmends text
Amendment text
Clause 2, page 1, line 14, at end insert—
“(c) to help close the productivity gap between the different regions of the United Kingdom.”
Stage
Committee stage
Type
EditBillBody
Clause
2
The Lord Bishop of St Albans
Amendment #10000396#10000396Not movedRemoves provision
Amendment text
Clause 2, page 1, line 14, leave out paragraph (b) and insert—
“(b) to improve the life outcomes of people in disadvantaged areas.”
Stage
Committee stage
Type
DeleteClauseOrSchedule
Clause
2
Baroness Bennett of Manor Castle
Amendment #10000397#10000397Not movedAmends text
Amendment text
Clause 2, page 1, line 14, at end insert “, with a specific focus on the creation of jobs”
Stage
Committee stage
Type
EditBillBody
Clause
2
Lord Tunnicliffe
Amendment #10000398#10000398WithdrawnAmends text
Amendment text
Clause 2, page 1, line 14, at end insert—
“(c) to reduce to sustainable levels the United Kingdom's use of natural resources and emissions of non-greenhouse pollutants, and
Stage
Committee stage
Type
EditBillBody
Clause
2
Baroness Bennett of Manor Castle
Amendment #10000399#10000399Not movedRemoves provision
Amendment text
Clause 2, page 1, line 24, leave out paragraph (a) and insert—
“(a) provision and conservation of water, renewable electricity, telecommunications, sewerage and other services (including the provision of heat from environmentally friendly sources), and security and health of food supplies,”
Stage
Committee stage
Type
DeleteClauseOrSchedule
Clause
2
Baroness Bennett of Manor Castle
Amendment #10000400#10000400Not movedRemoves provision
Amendment text
Clause 2, page 2, line 1, leave out “roads or other forms of” and insert “and other forms of mass”
Stage
Committee stage
Type
DeleteClauseOrSchedule
Clause
2
Baroness Bennett of Manor Castle
Amendment #10000483#10000483AgreedAmends text
Amendment text
Clause 2, page 1, line 25, after “heat” insert “and, in relation to electricity, gas and the provision of heat, energy efficiency”
Stage
Report stage
Type
EditBillBody
Clause
2
Baroness Penn
Amendment #10000512#10000512WithdrawnAmends text
Amendment text
Clause 2, page 1, line 22, at end insert—
“(4A) Before making any investment decision, the Bank must ensure that the principle of additionality is met.
Stage
Report stage
Type
EditBillBody
Clause
2
Lord Holmes of Richmond
Amendment #10000513#10000513Not movedAmends text
Amendment text
Clause 2, page 1, line 23, after “technologies” insert “, nature-based solutions”
Stage
Report stage
Type
EditBillBody
Clause
2
Lord Holmes of Richmond
Amendment #10000514#10000514Not movedAmends text
Amendment text
Clause 2, page 2, line 4, at end insert “, and clean air”
Stage
Report stage
Type
EditBillBody
Clause
2
Lord Holmes of Richmond
Amendment #10000517#10000517WithdrawnRemoves provision
Amendment text
Clause 2, page 1, line 13, leave out “and”
Stage
Report stage
Type
DeleteClauseOrSchedule
Clause
2
Lord Sharkey
Amendment #10000518#10000518Not movedAmends text
Amendment text
Clause 2, page 1, line 14, at end insert “, with an emphasis on reducing social or economic disadvantages within the United Kingdom.”
Stage
Report stage
Type
EditBillBody
Clause
2
Lord Ravensdale
Amendment #10000519#10000519Not movedAmends text
Amendment text
Clause 2, page 2, line 4, at end insert “, or the removal of harmful pollutants from the atmosphere.”
Stage
Report stage
Type
EditBillBody
Clause
2
Baroness Jones of Whitchurch
Amendment #10000520#10000520AgreedAmends text
Amendment text
Clause 2, page 2, line 4, at end insert—
“(5A) In exercising its functions, the Bank must have regard to the public interest in targeting investment in a manner that—

The Bills API publishes only the tabling instruction here, not the inserted text itself — the full wording is set out in the marshalled Amendment Paper.

Stage
Report stage
Type
EditBillBody
Clause
2
Lord Tunnicliffe
Amendment #10000521#10000521WithdrawnRemoves provision
Amendment text
Clause 2, page 2, line 9, leave out subsection (7) and insert—
“(7) Regulations made under the powers set out in subsection (6) are subject to the “super affirmative procedure” as set out in subsections (8) to (15).
Stage
Report stage
Type
DeleteClauseOrSchedule
Clause
2
Lord Sharkey
Amendment #10000543#10000543WithdrawnAmends text
Amendment text
Clause 2, page 1, line 12, at end insert—
“(ii) to adapt to any current or predicted impacts of climate change identified in the most recent report under section 56 of the Climate Change Act 2008, and
Stage
Report stage
Type
EditBillBody
Clause
2
Baroness Hayman
Amendment #10000544#10000544Not movedAmends text
Amendment text
Clause 2, page 1, line 13, at end insert—
“(aa) to help increase biodiversity and the growth of nature, and protect natural capital including by supporting actions to meet environmental targets and environmental improvement plans set under Chapter 1 of Part 1 of the Environment Act 2021, and”
Stage
Report stage
Type
EditBillBody
Clause
2
Lord Teverson
Amendment #10000545#10000545Not movedRemoves provision
Amendment text
Clause 2, page 1, line 14, leave out paragraph (b) and insert—
“(b) to reduce economic and social disadvantage within the United Kingdom”
Stage
Report stage
Type
DeleteClauseOrSchedule
Clause
2
Baroness Bennett of Manor Castle
Amendment #10000546#10000546Not movedRemoves provision
Amendment text
Clause 2, page 2, line 1, leave out “, roads or other forms of” and insert “and other forms of mass”
Stage
Report stage
Type
DeleteClauseOrSchedule
Clause
2
Baroness Bennett of Manor Castle
Amendment #10000556#10000556AgreedAmends text
Amendment text
Clause 2, page 1, line 23, after “includes” insert “structures underpinning the circular economy, and nature-based solutions,”
Stage
Report stage
Type
EditBillBody
Clause
2
Baroness Hayman
Amendment #10000586#10000586No decisionRemoves provision
Amendment text
Clause 2, page 1, line 13, leave out “and”
Stage
Report stage
Type
DeleteClauseOrSchedule
Clause
2
Lord Sharkey
Amendment #10003247#10003247AgreedRemoves provision
Amendment text
Clause 2, page 1, line 18, leave out “relevant”
Stage
Committee stage
Type
DeleteClauseOrSchedule
Clause
2
Lucy Frazer
Amendment #10003249#10003249AgreedAmends text
Amendment text
Clause 2, page 2, line 16, at end insert—
“(7A) The Treasury must consult the appropriate national authority before making provision in regulations under subsection (7) that would be within the legislative competence of—

The Bills API publishes only the tabling instruction here, not the inserted text itself — the full wording is set out in the marshalled Amendment Paper.

Stage
Committee stage
Type
EditBillBody
Clause
2
Lucy Frazer
Amendment #10003250#10003250Agreed on divisionRemoves provision
Amendment text
Clause 2, page 1, line 23, leave out from “includes” to “technologies” on line 24
Stage
Committee stage
Type
DeleteClauseOrSchedule
Clause
2
Lucy Frazer
Amendment #10003251#10003251Agreed on divisionRemoves provision
Amendment text
Clause 2, page 2, line 8, leave out subsection (6)
Stage
Committee stage
Type
DeleteClauseOrSchedule
Clause
2
Lucy Frazer
Amendment #10003772#10003772Negatived on divisionAmends text
Amendment text
Clause 2, page 1, line 14, at end insert—
“(c) to reduce economic inequalities within and between regions of the United Kingdom, and
Stage
Committee stage
Type
EditBillBody
Clause
2
Abena Oppong-Asare
Amendment #10003773#10003773Negatived on divisionAmends text
Amendment text
Clause 2, page 1, line 14, at end insert “, and
“(c) to support supply chain resilience and the United Kingdom’s industrial strategy”
Stage
Committee stage
Type
EditBillBody
Clause
2
Abena Oppong-Asare
Amendment #10003776#10003776WithdrawnAmends text
Amendment text
Clause 2, page 2, line 12, at end insert “, and
“(c) demonstrates additionality in the form of attracting private capital.”
Stage
Committee stage
Type
EditBillBody
Clause
2
Richard Fuller
Amendment #10003784#10003784WithdrawnAmends text
Amendment text
Clause 2, page 1, line 14, at end insert “, and
“(c) to create long term financial returns to its shareholder(s).”
Stage
Committee stage
Type
EditBillBody
Clause
2
Richard Fuller
Amendment #10004469#10004469No decisionAmends text
Amendment text
Clause 2, page 1, line 14, at end insert “, and
(c) to improve water quality in the UK.”
Stage
Report stage
Type
EditBillBody
Clause
2
Richard Foord
Amendment #10004470#10004470No decisionAmends text
Amendment text
Clause 2, page 1, line 22, at end insert—
“(4A) The Bank may only provide any of the support listed in subsection (4) to water companies if they have produced a costed, time limited plan demonstrating they are committed to preventing discharge.”
Stage
Report stage
Type
EditBillBody
Clause
2
Richard Foord
Amendment #10004471#10004471No decisionAmends text
Amendment text
Clause 2, page 2, line 9, leave out “consult” and insert “gain the express consent of”
Stage
Report stage
Type
EditBillBody
Clause
2
Stewart Hosie
Amendment #10004473#10004473No decisionAmends text
Amendment text
Clause 2, page 1, line 14, at end insert—
“(i) to reduce economic inequalities within and between regions of the United Kingdom, and
Stage
Report stage
Type
EditBillBody
Clause
2
Abena Oppong-Asare

Clause 3 5

Amendment #10000547#10000547Not movedRemoves provision
Amendment text
Clause 3, page 2, line 13, leave out “for the Bank” and insert “and a modified Bank framework document for the Bank, which must be drafted so as to be consistent with the statement”
Stage
Report stage
Type
DeleteClauseOrSchedule
Clause
3
Lord Thomas of Cwmgiedd
Amendment #10000548#10000548Not movedAmends text
Amendment text
Clause 3, page 2, line 16, after “statement” insert “or modified Bank framework document”
Stage
Report stage
Type
EditBillBody
Clause
3
Lord Thomas of Cwmgiedd
Amendment #10000549#10000549Not movedAmends text
Amendment text
Clause 3, page 2, line 17, after “statement” insert “or modified Bank framework document”
Stage
Report stage
Type
EditBillBody
Clause
3
Lord Thomas of Cwmgiedd
Amendment #10000550#10000550Not movedAmends text
Amendment text
Clause 3, page 2, line 18, after “statement” insert “or of any revised or replacement modified Bank framework document”
Stage
Report stage
Type
EditBillBody
Clause
3
Lord Thomas of Cwmgiedd
Amendment #10003254#10003254AgreedAmends text
Amendment text
Clause 3, page 2, line 26, at end insert—
“(4A) The Treasury must consult the appropriate national authority about any provision which the Treasury proposes to include in a statement under this section and which concerns a subject matter provision about which would be within the legislative competence of—

The Bills API publishes only the tabling instruction here, not the inserted text itself — the full wording is set out in the marshalled Amendment Paper.

Stage
Committee stage
Type
EditBillBody
Clause
3
Lucy Frazer

Clause 4 2

Amendment #10000522#10000522Not movedAmends text
Amendment text
Clause 4, page 2, line 30, at end insert “and any subsequent, consequential or relevant correspondence between the Treasury and the Bank.”
Stage
Report stage
Type
EditBillBody
Clause
4
Lord Sharkey
Amendment #10003777#10003777Negatived on divisionAmends text
Amendment text
Clause 4, page 2, line 38, at end insert “and any subsequent, consequential, or relevant correspondence between the Treasury and the Bank.”
Stage
Committee stage
Type
EditBillBody
Clause
4
Abena Oppong-Asare

Clause 7 4

Amendment #10003248#10003248AgreedAmends text
Amendment text
Clause 7, page 3, line 23, at end insert—
“(ba) the Board is to appoint one or more directors to be responsible for ensuring that the Board considers the interests of the appropriate national authorities when making decisions;”
Stage
Committee stage
Type
EditBillBody
Clause
7
Lucy Frazer
Amendment #10003770#10003770Negatived on divisionAmends text
Amendment text
Clause 7, page 3, line 23, at end insert—
“(ba) at any time, the Bank is to have at least one non-executive director who is a representative of workers.”
Stage
Committee stage
Type
EditBillBody
Clause
7
Abena Oppong-Asare
Amendment #10003782#10003782Not calledAmends text
Amendment text
Clause 7, page 3, line 20, at end insert “of which at least four must be non-executive directors”
Stage
Committee stage
Type
EditBillBody
Clause
7
Richard Fuller
Amendment #10003783#10003783WithdrawnAmends text
Amendment text
Clause 7, page 3, line 20, leave out “fourteen” and insert “eight”
Stage
Committee stage
Type
EditBillBody
Clause
7
Richard Fuller

Clause 9 7

Amendment #10003771#10003771WithdrawnAmends text
Amendment text
Clause 9, page 4, line 14, at end insert “, and
“(c) the effectiveness and scale of private and other third-party capital attracted to investments by the Bank.”
Stage
Committee stage
Type
EditBillBody
Clause
9
Richard Fuller
Amendment #10003774#10003774Negatived on divisionAmends text
Amendment text
Clause 9, page 4, line 24, leave out “7” and insert “5”
Stage
Committee stage
Type
EditBillBody
Clause
9
Abena Oppong-Asare
Amendment #10003775#10003775Negatived on divisionAmends text
Amendment text
Clause 9, page 4, line 21, leave out “7” and insert “4”
Stage
Committee stage
Type
EditBillBody
Clause
9
Abena Oppong-Asare
Amendment #10003778#10003778WithdrawnAmends text
Amendment text
Clause 9, page 4, line 21, leave out from “Treasury” to end of line 22 and insert “12 months and the second report within 24 months of the day on which this Act comes into force”
Stage
Committee stage
Type
EditBillBody
Clause
9
Richard Fuller
Amendment #10003779#10003779Not calledAmends text
Amendment text
Clause 9, page 4, line 24, leave out “7” and insert “2”
Stage
Committee stage
Type
EditBillBody
Clause
9
Richard Fuller
Amendment #10003781#10003781Negatived on divisionAmends text
Amendment text
Clause 9, page 4, line 14, at end insert—
“(c) the geographic spread of the businesses and bodies the Bank invests in, and
Stage
Committee stage
Type
EditBillBody
Clause
9
Abena Oppong-Asare
Amendment #10004448#10004448No decisionAmends text
Amendment text
Clause 9, page 4, line 39, leave out “7” and insert “5”
Stage
Report stage
Type
EditBillBody
Clause
9
Andrew Griffith