Welsh infrastructure gets £617m boost

Welsh infrastructure gets £617m boost

A £617⋅5m infrastructure funding boost for housing, transport and the health service has been announced by the Welsh government’s Finance Minister Jane Hutt in a draft budget.

 

Ms Hutt says the investment will create or sustain 11,000 jobs across Wales over the next three years. It will support the strategy of the Wales Infrastructure Investment Plan and comprises £342.5m of additional capital funding and £275m of financial transactions funding.

 

The budget features transport investment projects totalling £175m across Wales, including £62m for phase one of a new scheme to create a South East Wales metro system. Other transport investments include £40m for accelerating the dualling of the A465 Heads of the Valley between Gilwern and Brynmawr, £40 million for improving the M4 Brynglas Tunnels and £17m for improvements to two tunnels on the A55 in North Wales.

 

A total of £170m will be invested in housing including £140m between 2014/15 and 2015/16 for Help to Buy Cymru. This is a new shared equity scheme for Wales to help people to buy new homes and comes on top of the £34⋅5m which will be invested in the scheme during the current financial year. This will create an investment of more than £800m in 5,000 new homes.

 

Other investments planned include £20m to support a programme of flood and coastal defence improvements which will benefit an estimated 2,000 homes and businesses across Wales, as well as protecting vital transport infrastructure.

 

Health services will be a major beneficiary of the new budget, with a £570 million three year spending package that includes a substantial capital investment element. Ms Hutt said that Velindre NHS Trust’s proposed new £200 million Cancer Centre, will be funded by alternative investment sources.

 

Photo: Norman Hyett

Please rate

Comments 

Ctrl + Enter

Most Read

Are we seeing a decline in the UK Construction Industry?

Are we seeing a decline in the UK Construction Industry?

After recent events in the UK political scene, many have forecasted a decline in the economic performance of the UK industry starting in 2017. Are the March figures demonstrating this yet? Anglo studies some of the most reliable industry reports from IHS Markit in an attempt to answer this critical

How to attract women into engineering?

How to attract women into engineering?

In celebration of the International Women’s Day, Anglo Technical has decided to make a quick overview of the position of women in the workplace and in engineering, in the UK and worldwide.   Over the past few decades, women have proven they are able to engage in lots of activities that

IR35 is coming

IR35 is coming

On Thursday 6th of April 2017, new UK Government IR35 legislation finally kicks in for Public Sector LTD company contractors or as HMRC like to call it “Personal Service Company (PSC)” contractors.   It has already caused a shift in the amount of LTD company contractors currently

This website uses cookies to enhance your user experience. By continuing to use this site, you consent to our use of these cookies. See our Cookie Policy.