1. Innovative Finance in Wales: The Story so Far
Steve Davies
Head of Financial Innovation 1

2. The Capital Budget since 2009-10

3. A New Approach
The Programme for Government provides a mandate to explore innovative ways to deliver public sector infrastructure
In 2012, the Welsh Government publishes the Wales Infrastructure Investment Plan
In December 2014, the Wales Act provides new borrowing powers

4. Early Successes
Since , Local Government Borrowing Initiative has enabled £170 million for highways’ improvements
From , this initiative will see £170 million raised to accelerate school building programme
Launched in 2013, the Housing Finance Grant enabling £125 million investment in social and affordable housing

5. Wales and Private Finance
Thirty PFI schemes currently in operation in Wales
Majority of these are Local Health Board and Local Authority schemes
None closed since 2008

6. Wales and Private Finance (II)

7. Innovative Finance Pipeline
During the course of 2014, Government announces £1.9 billion pipeline
Includes £1 billion NPD pipeline
Also includes new instruments to raise finance for flood risk management and housing
And makes commitments on direct borrowing

8. The NPD Pipeline Three schemes announced:
Completing dualling of the A465
Transforming cancer services in Wales
Delivering priority learning environments

9. Completing Dualling of the A465
The 40km Heads of the Valleys road, from

10. Completing Dualling of the A465 (II)
To be delivered as a single project
Estimated capital value of £300 million
Extent of network to be owned / maintained by the Project Company to be determined
Concession period expected to be thirty years

11. Completing Dualling of the A465 (III)
OJEU not expected before autumn 2016
Construct, operate and maintain between
Expected to be operational in

12. Transforming Cancer Services in Wales
Velindre NHS Trust provides non-surgical cancer services for 1.5 million people.
An exemplary centre fast running out of capacity
New referrals increasing

13. Transforming Cancer Services in Wales (II)

14. Transforming Cancer Services in Wales (III)
Not an estates-led solution, about shaping a new service model
Service model facilitators now on board
PQQ issued for Technical Advisers
Expect to see patients treated in new establishment in 2021

15. Delivering Priority Learning Environments
Existing 21st Century Schools Programme will see £1.4 billion of investment between now and
Capital-funded programme, which includes rebuilding and major refurbishment projects

16. Delivering Priority Learning Environments (II)
New round of investment to begin in
£500 million to be undertaken via NPD
Planning at an early stage, but timetable tight

17. Partnership