Energy and transport to get share of £100bn
Date published: 27 June 2013
Plans for a £100bn modernisation of the UK's infrastructure, including new homes, road repairs and improved flood protection, have been announced.
The package, of which £50bn will come in 2015-16, is also aimed at boosting new sources of energy like shale gas.
Treasury Minister Danny Alexander said the plans put "long-term priorities before short-term political pressures".
But Labour said projects must start now and capital investment in the engine of the economy was actually falling.
The announcement of the government's infrastructure plans came a day after Wednesday's Spending Review, in which £11.5bn of cuts to Whitehall departments were spelt out.
While the first £50bn is committed to infrastructure projects starting in 2015-16, the rest is for the period from 2016 to 2020.
The main funding commitments include:
- £3bn to build 165,000 new affordable homes
- £28bn for road improvements, including £10bn for essential maintenance
- £10bn to clear a "backlog" of school building repairs
- 850 miles of railway to be electrified as part of £30bn rail investment
- £250m for extended super-fast broadband to rural areas
- £370m for flood defences. Agreement with industry to provide affordable insurance for flood-hit homes
- £800m extra funding for Green Investment Bank
- £150m for health research including into dementia
- £100m for a new prison in Wales
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