| Synopsis: |
In this paper the Government announces an increase in capital spending plans by GBP3 billion a year, from 2015, which means an additional GBP18 billion of investment over the next parliament. The 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 GBP70 billion of investment in transport, over GBP20 billion in schools and GBP10 billion in science, housing and flood defences. Specific commitments include funding for HS2, the biggest programme of investment in roads since the 1970s, and superfast broadband provision will be expanded so 95 per cent of UK premises will have access to superfast broadband by 2017.Action is being taken to provide the support needed to enable up to GBP100 billion of private sector energy investment, including through the further roll-out and extension of the UK guarantees scheme. Lessons on successful project delivery will be learnt from the Olympics and similar examples. |