As an Executive, we are committed to working with business and social enterprise where appropriate in order to share the burden of investment to transform our infrastructure.
Our private sector already owns and operates some of our most vital civil infrastructure; in particular, the grocery distribution network relied upon by us all to deliver high quality and affordable food on demand - with modern and convenient stores financed without recourse to public money. But the list goes on. Airports, energy interconnectors, community pharmacies, opticians, GP surgeries, childcare centres and, increasingly, a host of online service providers are only some of many 'everyday essentials' that are operated successfully by a diversity of providers outside the public sector. These providers raise finance for investment and operate services that must offer value to consumers as a prerequisite for commercial survival.
Our voluntary and community sector has shown its value over recent decades, working alongside the public sector to design and deliver cost-effective services valued by users.
So we know that private and social enterprise has the ability and experience to help us. All this innovation and well-pool of resource is now called upon to keep the momentum of investment going in the face of the cuts to our Budget.
Under this Investment Strategy, departments will work to identify opportunities for partnerships where private and social enterprise can help us to transform essential services - bringing additional funding and new perspectives on delivery. Such arrangements will be based on increasing efficiency, a thorough assessment of what works and value for money. Capital investment can also be supported by accessing the funding that is available through European programmes and, where appropriate, we will seek to derive the maximum benefit possible from these funding sources. We are determined to drive up productivity rather than cut the availability or quality of frontline service. New technology, new investment and the best ideas from across our community will be an important way to deliver what our people need and deserve in a time of less public money.
We will also be required to actively engage with institutional investors in order to attract inward investment into public-private infrastructure. A number of the most developed regions have recently created 'infrastructure banks' in order to attract investors and we will consider this matter further in the coming period. We will work to ensure that we secure our fair share of such investment.
We will consider the potential of alternative funding models, where appropriate, to accelerate investment in key areas such as regeneration and in the provision of housing solutions accessible to those on low incomes.