UK government announces US$60.6 billion infrastructure spending

UK prime minister David Cameron and chancellor George Osborne have launched a year of major infrastructure investment, with US$60.6 billion of spending planned across 200 projects. Many of the projects due to start construction in 2014 and 2015 are key transport schemes, ranging across road, rail, local transport and airport infrastructure as well as flood defence schemes. These include the Mersey Gateway Bridge, Sheffield Lower Don Valley and Exeter flood defence schemes, major roads such as the M6 J
April 23, 2014 Read time: 2 mins
UK prime minister David Cameron and chancellor George Osborne have launched a year of major infrastructure investment, with US$60.6 billion of spending planned across 200 projects.

Many of the projects due to start construction in 2014 and 2015 are key transport schemes, ranging across road, rail, local transport and airport infrastructure as well as flood defence schemes.

These include the Mersey Gateway Bridge, Sheffield Lower Don Valley and Exeter flood defence schemes, major roads such as the M6 J10A-13, Nottingham tram extension, Heathrow Terminal 2 upgrade and Gwynt y Môr offshore wind farm, which is currently the largest in construction anywhere in Europe.

These projects are part of the US$60.6 billion of planned investment – US$8.4 billion public investment, US$35.3 billion private investment and US$17 billion in joint public and private investment - in infrastructure across the country that could support over 150,000 jobs in construction and many thousands more in other sectors following completion. This includes the start of a US£64 billion programme of rail spending over the next five years.

In addition, there is expected to be further investment of up to US$25 billion in oil and gas this year.
UTC

Related Content

  • December 5, 2014
    Bolivia expands cable car network
    Bolivia aims to start work on the first of five new cable car lines in the capital next year, part of US$2.5 billion planned investment in infrastructure projects in 2015. The La Paz-El Alto cable car system's second phase, which includes an investment of US$450 million for the five new lines, will be completed by 2020, said César Dockweiler, CEO of state-owned operator Mi Teleférico. Bolivia's government plans to increase its 2015 public spending budget 37% to US$6.18bn, economy minister Luis Arce sa
    Read More
  • February 2, 2012
    Governments must look beyond short-term spending of public funds
    Phil Pettitt, Chief Executive of innovITS, the UK's ITS Centre of Excellence, argues that governments need to look beyond the short-term when looking to pump-prime economic recovery with public funds. It seems, in the current economic climate, that a 'good' day is one in which no company is announcing job cuts or going into administration. Consumer demand is down and businesses are retrenching, cutting costs and fretting over the consequences of shrinking opportunities and order books. It has not been this
    Read More
  • May 28, 2014
    Smoothing out city freight movements
    David Crawford welcomes a national first. Urban freight movements, while commercially and socially vital, are a growing logistical headache for planners and people alike. Figures from France’s Lyon Laboratory of Transport Economics indicate that goods transport in major urban areas accounts for: 20% of traffic; 35% of CO2 emissions made by all urban trips; and 50% of the diesel used; while final km delivery runs account for 20% of the total cost of the transport chain.
    Read More
  • October 23, 2023
    £150m boost for UK local bus services
    Money is part of reallocation of £36bn due to be spend on now-abandoned HS2
    Read More

Highlighted Content