The UK’s Prime Minister, David Cameron, and the Chancellor of the Exchequer, George Osborne, visited a transport infrastructure project this week where they outlined upcoming infrastructure investment. Construction work on over 200 projects will commence in 2014 – 2015. This comprises infrastructure developments in rail, road, local transport, airports, flood defences and waste management. A further 200 infrastructure projects are expected to be completed this year, including major road work, the Heathrow Terminal 2 upgrade and the Gwynt y Môr offshore wind farm.
The projects that are due to begin this year fall under a £36 billion investment plan (£5 billion in public investment, £21 billion private investment and £10 billion in joint public and private investment), helping to support more than 150 000 construction jobs. Approximately £38 billion has been earmarked for rail spending over the coming five years and up to £15 billion is likely to be invested in oil and gas this year.
“As part of our long-term economic plan we are investing in infrastructure around the country to create a more balanced, resilient economy,” commented George Osborne. “Because of the tough decisions we have taken in day to day spending, we can prioritise public investment where it is most needed and create the right conditions for private investment in infrastructure where it brings value for the taxpayer.”
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/europe-cis/24042014/construction_of_200_uk_infrastructure_projects_due_to_commence_73/