08/08/2012 04:48 BST

Clegg: Renewable Energy Sector Is Delivering Investment And Jobs

Large scale urban regeneration projects, sustainability in design, operation and equipment provision, and high-value opportunities in growth markets will provide opportunities in the infrastructure sector, according to the government.

The UK Trade & Investment Infrastructure Summit, being held at Lancaster House in London today, will feature a speech by chief secretary to the Treasury Danny Alexander, who will set out progress on measures to provide guarantees for major UK infrastructure projects.

The so-called UK Guarantees programme could potentially support up to £40 billion of investment, with the Green Deal - the largest ever programme for investing in the energy efficiency of our housing stock - expected to be an early candidate for this programme.

According to a release from the Department for Business, Innovation and Skills, Alexander will say: "We are looking at whether and how a guarantee could help ensure that the finances are in place to get the programme off to a very strong start. The deals my colleagues are announcing show that the UK is already in a strong position and the work we are doing on infrastructure will strengthen this further still.”

Ahead of the summit, deputy prime minister Nick Clegg said: "This is an exciting time for the UK infrastructure sector -companies are winning contracts across the world as British skills and expertise are becoming a trademark of the industry’s excellence and quality.

“Our construction sector is one of the world’s biggest and best which means UK-based companies are ideally placed to build on these excellent opportunities.”

The positive mood could find cold water poured on it this afternoon though, as the city expects the Bank Of England is expected to cut growth forecasts close to zero, down from the 0.8% predicted in May, as the double-dip recession intensifies.

The Telegraph is also reporting BoE governor Sir Mervyn King will be asked about a possible interest rate cut from the current record low of 0.5 per cent. Elsewhere, economists have told Bloomberg they expect further quantitative easing, with Morgan Stanley and ING Group among the banks forecasting more stimulus later this year.