NEWS: BBC News March 10, 2020
Budget 2020: Chancellor will promise 'record' infrastructure spend
The government will promise to raise infrastructure spending to its highest in decades in Wednesday's Budget.
The BBC reports that the Government “will pledge to triple the average net investment made over the last 40 years into rail and road, affordable housing, broadband and research. The Treasury told the BBC it would lead to the "highest levels [of investment] in real terms since 1955" - more than £600bn over the five-year Parliament.”
“The BBC understands Mr Sunak will promise a gross amount of over £600bn for capital spending - money put into projects like roads and rail - by the middle of 2025.”
The BBC reports that Rishi Sunak is expected to say "We have listened and will now deliver on our promise to level up the UK, ensuring everyone has the same chances and opportunities in life, wherever they live.
"By investing historic amounts in British innovation and world-class infrastructure, we will rebalance opportunities and lay the foundations for a decade of growth for everybody."
NEG’s view
the budget on 11th March is the ideal opportunity for the government to announce they are scrapping the destructive Oxford to Cambridge Expressway, which would see yet more investment in the South East, when East West Rail is being delivered and is the most sustainable transport solution for this region.
will the government reallocate this money instead to truly level up investment in infrastructure outside the South East? or will it blindly plough more money into any infrastructure project?
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