An extra £1.3 billion has been spent on building affordable homes, new health facilities and schools in the past year, the Welsh government has said.
Jane Hutt said that despite cuts to the capital Budgets, the Welsh Government has focused on important priorities of creating new jobs and boosting economic growth.
Ms Hutt said: “The additional investment we have made from capital reserves, totalling almost £462m, in the short term has the potential to create around 8,000 jobs during construction phases. In the longer term, this will boost growth and support the delivery of more efficient public services.
“In addition we have continued to work across the Welsh Government to maximise our opportunities. For example, we have worked to develop an Infrastructure Priority in the 2014 – 2020 European Structural Fund Programmes.
“A potential £1.8bn source of investment which could make a significant contribution to the delivery of our key priorities.”
The additional infrastructure investment in Wales will see a number of construction schemes underway including the Local Government Borrowing Initiative to the 21st Century Schools programme and completion of the A465 through a non-dividend investment vehicle
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Communities Secretary Eric Pickles has announced to increase the Government’s infrastructure investment in enterprise zones by £100 million that will create thousands of local jobs in the trades.
The investment package will help the thirteen enterprise zones to receive more money for 18 projects to build new service roads, car parking and other infrastructure, transforming ‘shovel ready sites into job ready sites’.
The fund, originally £60 million, is designed to help zones reach their real growth potential faster as economic engine rooms of local economies. Following a competitive bidding process the successful proposals will now undergo further testing to ensure value for money for the taxpayer.
Enterprise zones have already created 3,000 new jobs, attracted 126 businesses, generated 105,000 square metres of new commercial floorspace and secured almost £229 million of extra private sector investment.
In addition to this, 5 enterprise zones are also receiving £24 million to tackle traffic bottlenecks and road congestion near their site through Department for Transport funding.
Eric Pickles said: “Enterprise zones are stimulating job creation and economic growth in different parts of the country with their special package of incentives to attractive new business ventures.
“The government is putting its money where its mouth is and making sure enterprise zones have the buildings and infrastructure they need to make sites ready for business to set up in.
“Enterprise zones are proving extremely popular with business – they have already created over 3,000 jobs for local people – a 75% increase in just 5 months – and many more will be coming down the pipeline because of this new support.”
Andy Rose, Chief Executive at the Homes and Communities Agency, which is administering the fund, said: “The response from the enterprise zones to this investment opportunity demonstrates just how crucial upfront infrastructure is to development.
“It is great news that this additional investment means more priority sites can be funded than first thought, creating more jobs in the areas that need them.”
Today’s announcement is just one of range of steps the government has taken to rebalance the economy and support local businesses to grow and create jobs.
The government has reformed the way councils are funded so they have new incentives to go for growth and support local businesses. It has established 39 local enterprise partnerships that along with enterprise zones are able to access millions in government investment to support their local economy, including the £770 million Growing Places Fund and £2.4 billion Regional Growth Fund.
The schemes backed by the London Enterprise Panel (LEP) are in areas where ambitious regeneration plans are in place and where transport infrastructure will help unlock significant economic growth.
These schemes are set to deliver improved rail links between Tottenham Hale and the Upper Lee Valley; major road improvements in Bexley and support Ealing to harness the economic opportunities coming from Crossrail.
Collectively the projects could safeguard existing or create an estimated 45,000 jobs, support the construction of tens of thousands of homes and attract significant private investment into deprived areas.
The LEP’s adoption of these bids is a significant milestone for these projects and the proposals will now progress to a final stage, including more detailed work developing business cases, technical modelling and delivery mechanisms.
The Mayor of London, Boris Johnson, said: “Transport links are a vital precursor to economic development. This money is earmarked for investment into transport schemes which have significant potential to stimulate growth and job creation.
“I welcome the London Enterprise Panel’s assessment of which projects are best placed to do this and City Hall will now be working with the bid teams to progress these ambitious proposals.”
The bids approved by the London Enterprise Panel will provide extra services at Northumberland Park and Tottenham Hale, improving rail links between Stratford, the Upper Lee Valley and beyond including Stansted Airport.
Collectively with Angel Road Station improvements, this will support the commencement of the Meridian Water development and regeneration at Northumberland Park where there are plans for an estimated 3,500 homes and 500 jobs.
It will also support the development of an estimated 15,700 new homes, 21,900 new jobs in the Lee Valley and up to 15,000 jobs in adjoining areas.
£2.5 million allocated to upgrade Angel Road station and support regeneration in Enfield (bid from Enfield Borough Council). Angel Road station is vital to the regeneration of Enfield and specifically to support the Meridian Water development and regeneration in the Lower Lea Valley more widely.
Station improvements will increase passenger capacity through an enhanced commuter rail service and boost employment across wide range of trades in the building construction industry.
The Government is going to build thousands of homes at stalled housing sites and create new construction jobs through a multi-million investment package set to kick-start the economy and boost the trades.
Today, Housing Minister Mark Prisk confirmed that 14 major housing schemes across the UK will benefit from the investment that can start building up to 38,000 new homes.
A share of the Local Infrastructure Fund, which has a total budget of £474 million, will create thousands of jobs for local communities and people in the trades across the country.
The funding programme is targeted at large-scale sites of over 1,500 homes that could deliver real benefit to their communities.
Housing Minister Mark Prisk said: “This government is determined to get Britain building again. That’s why we are working with local housing schemes that have their plans in place, but need help to move forward.
“Our support through the Local Infrastructure Fund will help deliver the homes this country needs, create thousands of jobs and inject millions of pounds of investment into local economies.”
Homes and Communities Agency Chief Executive, Andy Rose, said: “This investment from the Local Infrastructure Fund is about building momentum behind some of those larger locally-backed housing developments to accelerate the supply of new homes.
“There is work to be done to ensure these bids deliver value for money for the taxpayer and fit with local priorities, but I am looking forward to getting out on site and seeing progress on successful bids in the months ahead.”
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Construction unions have signed a ground breaking industrial relations agreement to build a new nuclear power station at Hinkley Point that will employ 5,000 workers at the peak of construction.
The project will be the largest single site construction project in Britain. The Civil Engineering Sector Agreement has established pay rates for the workforce which is significantly above those agreed by the Construction Industry Joint Council.
It has been confirmed that a minimum craft rate of £13 an hour for civil engineering work and additional bonus payments to workers on site will establish the job as the best-paid site in the UK.
After months of negotiating, unions UCATT, Unite and GMB have secured agreement with the client EDF Energy and the principal contractors Bouygues Laing O’Rourke for a Common Framework Agreement which addresses how industrial relations will be managed and a Civil Engineering Sector Agreement.
The agreement also makes clear that the training of traditional apprenticeships and adult trainees will be a priority. A target of training at least 500 apprentices and adult trainees during the lifetime of the project has been set.
In an important step to combat casualisation and poor productivity the site will only directly employ workers through PAYE. For the first time in such an agreement there will also be strict rules placed on the recruitment of workers through employment agencies.
A top of the range occupational health scheme will be established to help ensure the short-term and long-term health of the construction workforce.
The agreement also sets out provision for a bonus scheme, a productivity scheme and milestone payments, which has laid the foundations for the best paid construction project the industry has seen.
Steve Murphy, General Secretary of construction union UCATT, said: “This ground breaking agreement will ensure that workers building Hinckley Point will receive excellent rates of pay and first class conditions. This agreement will act as the blueprint for all future major construction projects.”
Kevin Coyne, Unite National Officer for Energy and Utilities, said: “A new nuclear power station at Hinkley Point will be a significant milestone towards meeting Britain’s low carbon energy needs.
“We’re pleased that progress towards a greener future is also characterised by good pay and conditions for thousands of highly skilled workers. The agreement reached between the unions and employers is the result of intense but constructive negotiations.
“This agreement sends a clear message to the rest of the construction industry that good productive relationships can deliver positive results. The unions and employers have made real progress in laying the right foundations for this important project. It is now time for the government to stop delaying and give EDF the certainty it needs so the company can get on with the job of meeting the UK’s energy needs.”
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Britain’s Olympics has delivered a £2.5 billion boost in foreign direct investment (FDI) over the past year, bringing with it more than 31,000 jobs, according to preliminary figures published today.
The investment projects generated following the 2012 Olympics’ British Business Embassy programme of global business summits have helped ensure that the UK has again retained its position as the leading European destination for foreign direct investment.
The preliminary data published today at the Global Investment Conference shows that during 2012-13, UK Trade & Investment (UKTI) recorded 1,462 projects which brought with them or safeguarded 163,489 jobs. Of these 58,170 are new jobs – beating both the quantity of investment attracted and employment secured in the previous year.
The Prime Minister, David Cameron joined other high profile delegates from 40 countries at the Global Investment Conference, including the German and Canadian finance Ministers, Managing Director of the International Monetary Fund Christine Lagarde, global chief executive officers, sovereign wealth funds representatives and corporate investors.
Senior Ministers Chancellor George Osborne, Energy Secretary Ed Davey, Trade Minister Lord Green, Treasury Ministers Greg Clark and Lord Deighton and London Mayor Boris Johnson also spoke to delegates about the UK’s compelling offer as both a hub for global growth and an international investment destination.
Trade and Investment Minister Lord Green said: “Foreign investment creates hundreds of thousands of jobs and helps to increase the productivity and competitiveness of the UK economy. It’s a vital strand of the Government’s plan for growth.
“The 2012 Olympics were a once in a generation opportunity for the UK to showcase to the world Britain’s compelling investment offer and these preliminary figures are very encouraging. Despite strong competition from our traditional competitors and emerging economies, Britain has retained its position as the leading destination for foreign direct investment in Europe.
“To retain the UK’s enviable position as one of the most attractive global locations of choice, Britain will need to continue to work hard to attract high value foreign investment in the coming year and beyond.“
The preliminary data published today compares favourably with last year’s 1406 recorded projects (4% increase) and 112,659 jobs (45% increase). Of the 163,489 jobs, 58,170 are new jobs and 105,319 safeguarded jobs. UKTI and its partners were involved in delivering nearly 84% of the projects. Full results will be published in July.
Work has begun to build the 222 new family homes on 13.1 acres of land, which includes part of the former Circatex factory site and the southern end of Frederick Street, and is adjacent to the Zero carbon housing development at Sinclair Meadows
Local ward members Councillors visited the site alongside Lead Member for Housing and Transport, Councillor Jim Foreman and Ian Prescott from Keepmoat Homes, to see the work get underway.
Councillor Malcolm, who is also Lead Member for Resources and Innovation, said: “I’m delighted to see work starting on these new homes. It’s a major milestone in our ambitious plans to transform the Riverside area.
“There is so much happening locally, with the recently completed eco-friendly business incubator at One Trinity Green and new carbon negative homes at Sinclair Meadows going on to win awards for innovation. This new development will build on this success and I can’t wait to see it take shape over the coming years.”
The new homes will include 20 Council properties, which will be available to rent through South Tyneside Homes with the remainder for sale through Keepmoat.
The development will also feature a landmark apartment building and a specially designed £500,000 linear park, which will provide a new play area as well as create better pedestrian links to the riverside.
Councillor Clare, ward member and Lead Member for Regeneration and Economy, said: “These new homes form part of our wider plans to revitalise the Riverside area, which also includes Harton Quays Park, where work is already underway.
“It’s wonderful to see our ambitious plans progressing. This particular development will be a real asset to the Rekendyke area and a huge benefit to the wider community.”
Ian Prescott, Land and Partnerships Director at Keepmoat, said: “Keepmoat share in the Council’s exciting ambitions for the regeneration of this part of South Shields. Our £30 million Trinity South scheme will have a significant impact on the local community.
“In addition to developing high quality, new and affordable homes in an attractive landscaped setting, we are engaging with local businesses to create employment and training opportunities for local people.”
The development will also meet Level 3 of the Government’s Code for Sustainable Homes.
The next phase of Birmingham City University’s City Centre Campus is set to provide a £28 million boost to local businesses and create new jobs in the trades.
Willmott Dixon was today confirmed as a preferred contractor for the £46 million contract to build phase two of the University’s new campus in the city centre at Eastside, adjacent to Millennium Point in the heart of Birmingham.
The two-year project will also sustain 1,300 jobs and Willmott Dixon has committed to creating 46 new jobs for trainees, apprentices and people currently looking for employment.
With construction starting in June, the company expects £28 million of the build cost to go on sub-contractor packages delivered by firms located within a 20-mile radius of the project.
Phase two is part of the University’s £180 million investment in its estate and will feature a student support hub as well as a new library, teaching and IT space, plus other student-facing support faculties.
The Coleshill-based contractor also built phase one of the University’s masterplan, which features an integrated creative and media hub supported with pioneering technology. This project alone saw over £25 million of contracts spent on companies within a 20-mile radius of the site.
The phase one development has been named The Parkside Building, as it overlooks the newly opened Eastside City Park fronting the University’s flagship city centre campus. The Parkside Building will be open to students from this September.
Peter Owen, managing director for Willmott Dixon in the Midlands, said: “As a local company we take seriously our responsibility to support growth and sustain jobs in Birmingham.
“Our recent investment in the 4Life Academy is an example of this commitment. Now we have been appointed for phase two of Birmingham City University’s City Centre Campus and we’ll work with local companies to ensure they benefit from this huge investment.”
The 13.3 acre University of the Highlands and Islands (UHI) development will create 300 jobs during construction, a minimum of 28 modern apprenticeships and provide facilities for over 8,500 students.
Inverness is the first Further Education college to use the Non Profit Distributing (NPD) financing model with City of Glasgow and Kilmarnock colleges to follow later in the year.
NPD ensures that private sector returns are capped, that there is no dividend bearing equity, and any surplus is directed in favour of the public sector.
Other major projects in the £2.5 billion NPD pipeline include M8, M73 and M74 improvements, while construction work has already begun on community health buildings in Aberdeen, Forres and Tain.
Ms Sturgeon said: “The new £50 million Inverness College UHI will be a landmark building, the centrepiece in a high quality, modern and sustainable campus being developed on the outskirts of the city.
“This Government is determined to invest in Scotland’s infrastructure – our schools, roads and hospitals – both to stimulate growth in the short term and lay the foundations for long term success.
“That is good news for the Highland economy and its construction industry and will attract businesses and highly trained professionals to the Highlands to help stimulate economic growth.
“Our investment in schools, hospitals, roads and other infrastructure is set to top £3.4 billion in 2013-14, which is estimated to support more than 40,000 jobs across the Scottish economy.”
Education Secretary Michael Russell said: “The Scottish Government has demonstrated its commitment to Scotland’s college sector by adding £61 million to the sector’s budget over the next two years compared to what was originally planned for the spending review period.
“We are progressing college reforms that will substantially improve students’ chances of securing a job at the end of their course, as well as ensuring local businesses are able to employ the right people with the right skills.
“Our investment in Inverness College UHI sits alongside upcoming investment in Glasgow and Kilmarnock colleges to ensure our students have state of the art learning facilities to help them maximise their potential. The new Inverness campus will play a crucial role in the expansion of research, further and higher education in the Highland region.”
Barry White, Chief Executive of the Scottish Futures Trust (SFT), explained: “Reaching financial close of a project of this size and complexity in only 17 months is unprecedented. This project, funded through the SFT led NPD programme, is a massive boost to the local economy with the main contractor committed to deliver at least 25 apprenticeship positions.
“When it opens in summer 2015, Inverness College UHI will be housed in modern, high quality and fit-for-purpose buildings and achieve great value-for-money thanks to the collaborative efforts and professionalism of all partners involved.”
Transformation works at the former Olympic Stadium in Stratford have been given the go-ahead, paving the way for new jobs and boosting the trades.
The Legacy Corporation’s planning decisions committee granted permission for the original structure to be transformed into a 60,000-seater venue with a capacity of 80,000 for concerts.
Sir Robin Wales, Mayor of Newham, said: “This is fantastic news and we will work hard to make sure our residents have access to the jobs created by the construction project as well the Stadium itself once it opens. Queen Elizabeth Olympic Park is beginning to take shape and the progress that’s been made so far is impressive.”
The multi-purpose venue, which has Premier League club West Ham United confirmed as an anchor tenant, will host Rugby World Cup matches in 2015 and the 2017 World Athletics Championships.
Subject to a referral to the Mayor of London, work will begin later this year on the proposed alterations, which include introducing retractable seating in the lower tier and a new extended roof design to cover the new seating, as well as the re-use of the iconic lighting towers.
Dennis Hone, Legacy Corporation chief executive, said: “This is an important milestone that paves the way for the Stadium’s intended legacy use as an all-year-round venue.
“As we prepare for the phased re-opening of Queen Elizabeth Olympic Park this summer, with the long-term future of all eight permanent venues on the Park now secure, we remain firmly on track to deliver a meaningful physical and social legacy for Londoners.”
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