George Osborne has confirmed a replacement to the “discredited PFI” model to ensure the public sector “also share in the rewards”.
The chancellor made the announcement, reported by CN yesterday, while also revealing that £10 billion of projects have prequalified for government to underwrite schemes using its UK Guarantees initiative.
Mr Osborne also confirmed that the £40bn scheme will be doubled.
The chancellor also confirmed an £1bn loan guarantee for the extension of the Northern Line.
It came alongside funding for four roads schemes, including the A1 ,A5, M25 & A30.