Details of the Government’s Infrastructure Pipeline with Budget of £500 Billion Revealed

In the first week of December, the UK government released pertinent details of the infrastructure pipeline for investment with a total budget of £500 billion. The pipeline project includes some substantial schemes such as the upgrading of the A14 and the construction of the Thames Tideway Tunnel, among others.

What's coming up in the infrastructure pipeline?

What's coming up in the infrastructure pipeline?

The Treasury’s Chief Executive, David Gauke, states that the infrastructure pipeline plans are a new record and are set to transform the lives of many individuals when it comes to faster and easier travel, improved broadband and Internet access, and even the construction of more homes for those living in areas with high demand. Mr. Gauke adds that the government is fully committed to making sure that the infrastructure of the country is suitable for the future, and this is actually the core of the government’s big plans to eliminate the productivity gap in the UK and build a fairer economy for all.

With its plans and budget of £500 billion, Mr. Gauke further attests, the government reiterates its strong and firm record of providing the completely modern and innovative infrastructure the country requires.

 

Investments for infrastructure revealed

In accordance with the announcement, the government has published and released a National Infrastructure and Construction Pipeline with details on a series of planned public and private investment initiatives related to the present Parliament and the Parliament in the future. The Pipeline report, which was published by the IPA (Infrastructure and Projects Authority), follows the recent statement of the Chancellor this autumn, which included details on the £23 billion NPIF, or National Productivity Investment Fund.

According to the report, there will be investments in infrastructure amounting to more than £2.6 billion for the improvement of various networks for transport. Along with this, a significant budget is set for the improvement of broadband access, and £7.2 billion has been allotted for new home construction.

The Treasury has also released a statement detailing the importance of infrastructure investment. In the statement, the Treasury adds that better, improved infrastructure is at the core of the plans of the government to close and eliminate the productivity gap in the UK. This pipeline, the Treasury adds, is the biggest and most comprehensive pipeline the government has ever come up with, and it also gets more than half its budget from private financing. As a result, substantial local schemes and projects around the country involving transport, Internet and broadband access, housing, and even flood defence will be addressed.

In addition, the government has published another report on funding and finance in order to attract more investments from the private sector into the various important projects for infrastructure in the UK. About 20 projects and schemes have already been added to the infrastructure pipeline, including the construction of the expressway between Oxford and Cambridge.

Posted on 03 Jan 2017 in News

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