£76.5m infrastructure boost to create jobs and growth

The Welsh GovernmentThe Welsh Government has unveiled a £76.5 million funding package for housing, schools, flood protection and transport that will support around 1,400 jobs and boost the economy.

Finance Minister Jane Hutt outlined that the Welsh Government has delivered additional investment of around £1.1 billion in infrastructure projects across Wales by maximising the use of reduced capital budgets and by generating investment of around £750 million through innovative finance.

Jane Hutt said: “The £76.5 million of additional capital investment I am announcing today supports the priorities set out in the Wales Infrastructure Investment Plan for Growth and Jobs and ensures every Welsh pound is used to boost jobs and growth.

“The main benefits of investment are gained over the long term. But in present circumstances, the jobs created in constructing new infrastructure are vitally important, and this latest package is expected to support around 1,400 jobs during the construction phase.

“This significant package of investment clearly demonstrates our commitment to stimulating economic growth, creating jobs, mitigating the impact of the UK Government’s Welfare Reforms and reducing poverty in Wales.”

The multi-million package of investment to increase housing supply, including: 

    • An additional £20 million for the Social Housing Grant specifically to target investment in providing housing for individuals and families that may be adversely affected as a result of the UK Government’s reductions in Housing Benefit; and
    • £10 million to expand the pilot of the Houses into Homes initiative to bring empty homes in Wales back into use.
    • A £25 million package of investment in education to further accelerate the 21st Century Schools Programme.
    • £11.5 million for a railway and station in Ebbw Vale town centre, as an initial element of a wider programme to create a more integrated transport network in South East Wales and support the City Region strategy.  This investment will be a further boost to the regeneration of the local area.
    • £10 million additional investment in the Flood and Coastal Risk Management Programme, to protect homes, businesses and communities from the risk of flooding.

What is your reaction to the increased infrastructure investment in Wales that will create new jobs and boost the trades? Share your thoughts by commenting here or raise your voice on our Facebook and Twitter pages.

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Posted on May 8, 2013, in Building Construction Industry, Building Engineering Sector, Business, Career change, Construction, construction jobs, construction news, electrician jobs, Employment, Government, Housing Scheme, Infrastructure, jobs, plumbing, plumbing jobs, t4ts, Trades, train4tradeskills, Train4TradeSkills News, UK Economy and tagged , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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