Clause 2 - Objectives and activities

Part of UK Infrastructure Bank Bill [Lords] – in a Public Bill Committee at 9:45 am on 22 November 2022.

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Photo of Richard Fuller Richard Fuller Conservative, North East Bedfordshire 9:45, 22 November 2022

My hon. Friend is right: not everything should be written into statute, but there ought to be more clarity. Can he provide a couple of points of clarity so that I may withdraw my amendment? On the bank’s target of 2.5% to 4% return, is that a real rate of return, and above what cost of capital? And if the chief executive and the directors do not achieve that rate of return, what will be the consequences for them?