Chancellor Rachel Reeves has unveiled the Spring Statement with a package of spending measures targeting infrastructure projects, defence and modernisation of public services.
Infrastructure spending
Reeves has allocated £13bn, over the course of the parliament, to deliver new infrastructure projects. She said the money would help to “catalyse” private investment and in particular could unlock the potential of the Oxford-Cambridge Growth Corridor, which could add up to £78bn to the UK economy by 2035.
An additional £625m fund to boost construction skills aims to train up to 60,000 skilled construction workers to help support infrastructure projects. First announced earlier this week, the new workers are also needed if the government’s enhanced housing targets are to be met.
EngineeringUK welcomed the funding for construction workers, saying it was a “step in the right direction”, but urged the government to go further in the Autumn Budget later this year and address the financial barriers...