It was announced this morning that the Government plans to pump £5bn into accelerating key construction projects across England, Wales, Scotland and Northern Ireland.
Boris Johnson’s “New Deal” puts construction in the driving seat of the government’s economic growth strategy to support jobs and national renewal. In his announcement, the PM said he would 'turn on the spending taps, tear up the planning system and 'build, build, build' to kickstart the economy'.
The Post-Covid New Deal
• £1.5bn this year for hospital maintenance, eradicating mental health dormitories, enabling hospital building, and improving A&E capacity.
Confirmation of a £12billion scheme for 150,000 affordable homes over the next eight years, including a pilot for 1,500 that will be offered to first-time buyers at a 30 per cent discount;
• £100m this year for 29 road projects, from bridge repairs in Sandwell to boosting the quality of the A15 in the Humber region. Plus £10m for development work to unblock the Manchester rail bottleneck, which will begin this year.
• Over £1bn to fund the first 50 projects of a new, 10-year school rebuilding programme, starting from 2020-21. These projects will be confirmed in the Autumn, and construction on the first sites will begin from September 2021.
• £560m and £200m for repairs and upgrades to schools and FE colleges respectively this year.
• £142m for digital upgrades and maintenance to around 100 courtrooms this year, £83m for maintenance of prisons and youth offender facilities, and £60m for temporary prison places, creating thousands of new jobs.
• £900m for a range of ‘shovel ready’ local growth projects in England over the course of this year and next, as well as £96m to accelerate investment in town centres and high streets through the Towns Fund this year. This will provide all 101 towns selected for town deals with £500k-£1m to spend on projects such as improvements to parks, high streets, and transport.
Watch the full speech here: