This (incredibly short) Bill is due for its third reading at committee stage in the House of Commons at the beginning of next week (Mon 15th Oct), having been introduced and through its first two readings last month.
Its premise is to encourage growth in the UK economy, and bring forward investment in major infrastructure projects.
As its name suggests, it will provide for the Government to give financial assistance - by way of loans, guarantees, indemnities or other financial assistance - to any person in respect of the provision of infrastructure. That could mean the construction of new infrastructure or the improvement, operation or repair of existing infrastructure. For the purposes of this legislation, 'infrastructure' is defined very widely, with the non-exhaustive list referring expressly to housing, education and health facilities.
The assistance is to be capped (initially at least) to Government liability and expenditure of £50m at any one time.
As for any detail on what sort of project may benefit from this assistance, we are expecting guidelines to be issued to ensure that any proposal that receives an infrastructure guarantee is "nationally significant, financially credible, good value for the taxpayer, requires a guarantee to get under way and is ready to start within a year."