Chancellor George Osborne has set out plans for investment in a raft of regional infrastructure schemes.
In the final Budget before May’s general election, Osborne pledged cash for rail and flood defence schemes and indicated support for further power and road projects
Key passages from the Budget report included:
“Transport for the North will shortly publish an interim report, committing to build on the concept of High Speed 3 to develop a network of high quality rail connections across the North; bring the benefits of HS2 to the north sooner than planned; and work towards a single smart and integrated ticketing system across the region.”
“The government will now proceed with electrification of the Selby to Hull line, subject to an acceptable contribution from Hull Trains and a business case, to complete the full electrification of the historic trade route between Liverpool and Hull.”
“Budget 2015 sets out… £34M of additional government funding plus a further £16M from Transport for London for the development of the Croxley rail link to extend the Metropolitan Line on the London Underground to Watford Junction on the West Coast Main Line, and £4M for further development of the Wet Dock Crossing in Ipswich, and Lowestoft Third River Crossing.”
“The government has made significant investment in flood and coastal defences across the East during this Parliament, and in December 2014 set out a £240M investment programme for the next six years. The government is bringing forward an additional £16.8M over the next four years. Key schemes will start in Canvey Island in 2016, and new projects in Great Yarmouth and Canvey Island will be funded within the six-year programme.”
“The government has asked the South West Peninsula Task Force on rail to consider improvements to the Exeter to Salisbury line as part of its work. The government also encourages the relevant local authorities and Local Enterprise Partnership to develop a business case for investment in the North Devon Link Road, to form the basis of a future application to the Local Growth Fund.”
“The government has decided to enter in to the first phase of negotiations on a Contract for Difference for Swansea Bay Tidal Lagoon (without prejudice to the planning decision on the project) to determine whether the project is affordable and value for money for consumers, and whether it will drive down costs for tidal lagoon energy in the UK.”
Click here for the full Budget report.