Osborne boosts infrastructure

George Osborne is to announce long-term capital commitments to infrastructure today while slashing spending by £11.5bn in election year, marking the sixth consecutive year of cuts, as he unveils capital spending priorities for the next five years.

Osborne boosts infrastructure

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Energy infrastructure is high on the list of priorities, with new offshore wind farms and a progress report on new nuclear likely to be announced.

Road, rail, housing and broadband projects will also be included in the budget, with the schemes aiming to unlock private sector investment and move the economy into recovery phase.

The next phase of the affordable homes programme is likely to be unveiled, while councils are expected to be given extra funding to fix potholes and resurface roads in order to create jobs and give the economy a boost.

The Financial Times reports business leaders remain sceptical that the government can deliver its infrastructure investment promises, given that new infrastructure orders have dropped to a 25-year low.

Find out about the government’s high street growth bonds, the initiative launched last summer. 

 

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