Roads, rail and digital investments target productivity growth

A £23bn National Productivity Investment Fund has been launched by Chancellor Philip Hammond to support spending on infrastructure and innovation to boost economic growth.
Although he steered clear of major projects, Mr Hammond focused on supporting smaller, local initiatives that can be implemented more quickly.
Mr Hammond said: “We choose in this Autumn Statement to prioritise additional high-value investment, specifically in infrastructure and innovation, that will directly contribute to raising Britain’s productivity.”
£1.1bn is to be invested in local transport networks in England where the Chancellor hopes “small investments can offer big wins”. £220m will be used to address traffic pinch points on strategic roads, £450m to trial digital signalling on railways to “squeeze more capacity out of our existing rail infrastructure”, and £390m on low-emission and driverless vehicles.

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