Chancellor Philip Hammond is expected to announce a £1.3bn investment to tackle roads congestion in the upcoming Autumn Statement.
The lion’s share of the money – around £1.1bn – is expected to fund upgrades on local roads and public transport networks. Traffic pinch-points will receive £220M, and the Oxford, Milton Keynes and Cambridge expressway is also expected to get an extra £27M.
The funding was revealed in yesterday’s (20 November) Sunday Telegraph. Hammond wrote in a column for the paper: “By investing in our national infrastructure and skills we can do even better than before; we can improve our historically low levels of productivity and up our game even more.
“For too long, taxpayer-funded investment hasn’t been sufficiently targeted on generating economic returns for the country. On my watch, it will be.
“Especially when finances are so tight, taxpayers are right to expect that every penny will be carefully targeted to get the maximum benefit for the economy. And strengthening our economy is the only sustainable way to protect our world-class public services.”
Hammond has previously said that he favours small, shovel-ready projects that provide an immediate economic boost.
New Civil Engineer has contacted the Treasury for a response.