Budget 2020: More than £600bn set to be spent on infrastructure
Chancellor Rishi Sunak announces 2020 budget, and infrastructure across the country is set to see significant investment.
Mr Sunak says the government is tripling the investment in transport and infrastructure spending, which would make it the highest level since 1955.
More than £600bn is now set to be spent on roads, rail, broadband and housing by the middle of 2025. Specifically, within the highways sector, the government will spend £27bn on more than 4,000 miles of roads. The government will publish a National Infrastructure Strategy later in the spring, and the CSR will provide full departmental spending plans.
Additionally, £2.5bn will be made available to fix potholes and resurface roads over five years, enough funding to fill in around 50 million potholes across the country, and unprecedented investment in urban transport, with £4.2 billion for five-year, integrated transport settlements for eight city regions on top of £1 billion allocated to shovel-ready transport schemes.
The Conservative manifesto for December’s election pledged: ‘We will launch the biggest ever pothole-filling programme as part of our National Infrastructure Strategy – and our major investment in roads will ensure new potholes are much less likely to appear in the future.’
The government will also provide additional funding worth £640m for Scotland, £360m for Wales and £210m for Northern Ireland.
Mr Sunak said:
“Today I am announcing the biggest ever investment in strategic roads and motorways – over £27bn of tarmac. That will pay for over 20 connections to ports and airports, a hundred junctions, and over 4,000 miles of road.”