Government prioritises long-term infrastructure investment

Government prioritises long-term infrastructure investmentIn a speech to the House of Commons, Chief Secretary to the Treasury Danny Alexander outlined a pipeline of over £100 billion worth of public investment in infrastructure projects, to 2020.

The government has announced an increase in capital spending plans by £3 billion a year, from 2015, which means an additional £18 billion of investment over the next parliament.

The Chief Secretary maintained the need for a long-term infrastructure investment plan, to ensure that Britain can compete in the global race by looking at infrastructure investment priorities beyond 2015.

View the Government’s map which sets out infrastructure investment in your area.

Government is taking a long-term approach to infrastructure, to overcome decades of short-term decision making and uncertainty in funding, financing and failures in delivery.

Plans include over £70 billion of investment in transport, over £20 billion in schools and £10 billion in science, housing and flood defences.

Specific commitments include funding for HS2, a new nationwide rail network that will put two-thirds of northern England within 2 hours of London.

Action is being taken to provide the support needed to enable up to £100 billion of private sector energy investment, including through the further roll-out and extension of the UK guarantees scheme.

The Chief Secretary also announced the government’s plans to strengthen infrastructure project delivery through learning from successful approaches taken in the Olympics and elsewhere.

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