Today the chancellor Philip Hammond unveiled his first (and last) Autumn Statement.
Autumn Statement 2016_Infra infographic
The statement included billions of pounds of investment in infrastructure, housing and research and development. Here is a full breakdown of where exactly that money has gone.
National Productivity Investment Fund
- £23bn of spending between 2017/18 and 2021/22 will be targeted at housing transport, digital communications, and research and development (R&D) projects to boost productivity.
- Government investment in the areas covered by the National Infrastructure Commission will rise to more than 1 per cent of GDP by 2020/21, up from 0.8 per cent.
- Future invitations to the NIC to set out recommendations will be on the assumption that spending on infrastructure will equal between 1 per cent and 1.2 per cent of GDP each year from 2020 to 2050
- Housing Infrastructure Fund to provide £2.3bn by 2020-21 for infrastructure targeted at unlocking housing developments in areas of greatest demand.
- £1.4bn to deliver an additional 40,000 affordable housing starts by 2020-21
- £1.7bn by 2020-21 to support accelerated construction of of homes on public sector land
- £1.1bn by 2020/21 to go towards relieving congestion and delivering upgrades on local roads and public transport networks.
- £220m to be invested to tackle key pinch-points on England’s strategic roads network.
- Government will recommit to the National Roads Fund announced during the Summer Budget 2015.
- £450m to trial digital signalling technology across the network.
- £80m to roll out smart ticketing including season tickets for commuters in the UK’s major cities.
- £5m in development funding for the Midlands Rail Hub, a programme of rail upgrades in and around central Birmingham.
- £27m in development funding for Oxford to Cambridge expressway.
- £100m to accelerate construction of the western section of the East-West Rail between Oxford and Cambridge line.
- £10m in development funding for the central rail section of the East-West Rail section.
Future Transport Fund (£390m)
- £80m for Ultra Low Emission Vehicles charging infrastructure.
- £150m in support for low emission buses and taxis.
- £20m for the development of alternative aviation and heavy goods vehicle fuels.
- £100m for new UK CAV testing infrastructure.
- 100 per cent first-year government allowances to companies investing in charge-points for electric vehicles.
Local Enterprise fund (£1.8bn)
- £556m of this will go to the North of England.
- £392m to LEPs in the Midlands.
- £492m to London and the South-east.
- £191m to the South-west.
Digital Infrastructure (£1bn)
- £740m will be invested by 2020-21 into supporting the roll out of full fibre connections and future 5G technologies.
- £400m for a new Digital Infrastructure Investment fund to invest in new fibre networks.
Autumn Statement in-depth: Construction analysis
- A £2.3bn local infrastructure fund will be created to boost housebuilding across parts of the UK
- 6 things we learned from the chancellor’s first (and last) Autumn Statement
- A new pipeline of projects will be developed that could be delivered through government’s PF2 public-private partnership scheme
- R&D investment boost announced, but Britain still lags behind others
- £23bn National Productivity Investment Fund revealed
- OBR revises down growth forecasts; surplus target abandoned
- Northern Powerhouse projects given the go-ahead
- Industry reacts: Leading figures from across the sector have their say
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