Legal & General (L&G) has provided the strongest indication so far that institutions are responding to the government's drive to encourage more infrastructure investment by increasing the amount it plans to spend from £3bn to £15bn over the next decade.
But chief executive Nigel Wilson made it clear in an interview with The Sunday Telegraph that the criteria being adopted by the insurance giant in backing projects would be "value for money" rather than size. He saw little merit in the High Speed 2 fast rail link from London where costs have soared to £43bn and said increases in capacity at Heathrow and Gatwick represented better value than the mayor of London's proposal for a new airport in the Thames Estuary. Transport and energy projects figure prominently on what is seen as L&G's "safe" infrastructure investment list along with ho...
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