Today’s Budget stressed the government has made 60 per cent more decisions on major infrastructure projects compared with the same time in the previous Parliament.<\/p>\n
It stated that a review of rail infrastructure costs will report in six months\u2019 time, while the government said it is also exploring offering indemnities to nuclear project developers, as well as developers of other critical projects.<\/p>\n
For transport infrastructure, the Budget has said it will deliver a continuous 50-mile dual carriageway between the M6 (Penrith) and A1(M) (Scotch Corner), starting works from November 2026 and with a revised nine-year delivery schedule.<\/p>\n
On the TransPennine railway route upgrade, the government has awarded a \u00a31.2bn contract to Alstom\u2019s Derby Litchurch Lane Works to build 29 new battery-powered trains.<\/p>\n
The government has reiterated its support for new mass transit systems and said it would explore ways to unlock these schemes, including new powers to help mayors.<\/p>\n
The Budget has said the government will put forward legislation “at the earliest opportunity” to slash the risk of legal challenges leaving essential infrastructure projects in limbo.<\/p>\n
It explained this would let Parliament designate and authorise the country\u2019s most critical infrastructure projects and will help ensure legal challenges are raised and resolved earlier.<\/p>\n
The government said it would publish an updated Infrastructure Pipeline before the end of the year, giving investors, industry and the supply chain greater certainty on the UK\u2019s infrastructure programmes, projects, and funds.<\/p>\n
And it said it would set out over \u00a3750bn worth of planned investment over 10 years and an expected workforce requirement of over 650,000 people.<\/p>\n
In his address to Parliament today, Chancellor John Healey mentioned a number of multi-million pound regional investments which the government is funding.<\/p>\n
These include \u00a310m for a new market hall in Stafford, \u00a311m for the replacement of the Aberavon bridge in Port Talbot, \u00a33m to provide match funding for specialist innovation space for early-stage companies in the Don Valley Corridor, \u00a310m to unlock private investment in Bristol Temple Quarter and \u00a32.5m for a science park in north Wales.<\/p>\n
Elsewhere, \u00a320m from the government’s Growth Mission Fund will support restoration and redevelopment of the long-derelict Littlewoods site in Liverpool into a 260,000 sq ft creative campus for film, TV, gaming, immersive technology and digital screen industries, subject to final business case.<\/p>\n
In Bury, \u00a310m from the Growth Mission Fund will support local regeneration focused on the restoration and reactivation of the town’s indoor market building, again subject to a final business case.<\/p>\n","protected":false},"excerpt":{"rendered":"
Budget promises to set out over \u00a3750bn worth of planned infrastructure investment over 10 years<\/p>\n","protected":false},"author":238857,"featured_media":8610,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120782,128805,1],"coauthors":[62387],"class_list":["post-8609","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-infrastructure","category-latest-news","tag-featured-story"],"yoast_head":"\n