NAPF calls for tax reforms on infrastructure investment

摘要

More needs to be done to make investing in infrastructure attractive and cost-efficient, local authority pension funds have said. The National Association of Pension Funds (NAPF) called for reform to ensure that the value added tax system encouraged, rather than penalised new infrastructure investment vehicles. Three of the original founding investors of one such structure - the Pensions Infrastructure Platform (PIP) - pulled out of the model earlier this year. Chief executive of the NAPF, Joanne Segars, said: 'Historically, even where suitable infrastructure assets have been available, it has been difficult for pension funds to invest. 'The NAPF has worked to address this with the PIP, but the Government must do its part.' The NAPF's manifesto calls for a 'steady pipeline of suitable assets' and asks the Government to 'open the door' to large-scale pension fund investment in the UK's infrastructure.