Chancellor George Osbourne has pledged financial backing for a number of infrastructure projects across the north and south of England.
In his eighth Budget, Mr Osbourne has granted approval for planning work to continue on major projects such as the £32 billion Crossrail 2 scheme in London and the HS3 link between Manchester and Leeds.
The Government is to release £60m to develop HS3 proposals, cutting journey times to around 30 minutes between Leeds and Manchester, with transport connections also upgraded between other Northern cities.
Development work on Crossrail 2 will also receive £80m.
Over £230m has also been set aside for road improvements in the north of England, including dualling the M62 as well as upgrading the A66 and A69.
In addition, £700m will be provided towards upgrading flood defence schemes in various areas including York, Leeds and across Cumbria.
In his speech, Mr Osbourne said: "Across Britain this Budget invests in infrastructure – from a more resilient train line in the South West, to crossings at Ipswich and Lowestoft in the East – we are making our country stronger.
"To respond to the increasing extreme weather events our country is facing I am today proposing a further substantial increase in flood defences.
"That would not be affordable within existing budgets.
"So I am going to increase the standard rate of Insurance Premium Tax by just half a percentage point – and commit all the extra money we raise to flood defence spending.
"That's a £700 million boost to our resilience and flood defences."
Reacting to the announcements, Ed Cox, director of think tank IPPR North, said: "We welcome the 'green light' that the Chancellor has given to major transport schemes in the North of England but in truth he has only committed to further feasibility studies.
"The announcements will heighten expectations though that government will ultimately commit the fresh billions required to finally see some spades in the ground."
Paul Payne, MD of rail and construction recruitment specialist Oneway, also welcomed the announcements. However, he added more focus needed to be put on upskilling the workforce.
"The announcements made this afternoon are highly encouraging and indicate that the government is set to push for growth by investing in major infrastructure projects which could create thousands of roles across a variety of positions," he said.
"However, this is tempered optimism as both the construction and rail sectors are currently suffering from significant skills shortages and much more needs to be done to ensure we have adequate numbers of professionals ready and able to operate on these projects.
"Factors like the upcoming apprenticeship levy, which comes into play next year, are steps in the right direction, however that's a long term solution. The sector is short of talent right now and governing bodies need to look to either promote skilled trades careers more effectively or find ways of upskilling professionals to be able to operate on key projects like HS3."
(LM/JP)
Time and date
CONSTRUCTION DIRECTORY
Construction News
16/03/2016
Osbourne Pledges Backing For Major Infrastructure Projects
Latest Construction News
21/11/2024
Europe's leading online cleanroom consumables supplier, Cleanroomshop, has recently launched a brand-new website, giving its users an improved user experience. The new website continues to offer over 2,000 products from more than 40 brands, whilst incorporating a new look and more efficient ...
21/11/2024
At Ecomerchant, we offer a carefully curated selection of sustainable weatherproofing solutions, including natural lime renders, mineral finishes, and vapour-open waterproofing materials. They help prevent structural damage while ensuring your building can breathe naturally. Our eco-friendly ...
20/11/2024
Construction firm Willmott Dixon has partnered with Westminster City Council on a £36 million project to restore the historic Seymour Centre in Marylebone, a Grade II listed building dating back to the 1930s. The project, procured through the SCF framework, will see the three-storey centre undergo ...
20/11/2024
The Hill Group has commenced work on a new development in Billericay, Essex, which will deliver 179 high-quality homes across a 20-acre site. Designed to blend with Billericay's scenic countryside while addressing the pressing demand for sustainable housing, the project is located on Kennel Lane ...
20/11/2024
Extensive groundwork is underway for a new housing development in Maidstone, where Vistry Group, in partnership with Legal & General Affordable Homes, is set to build 272 properties on the site of the former Tovil Quarry off Farleigh Hill. The project will include 37 affordable homes for low-cost ...
20/11/2024
Stonewater has scooped a new energy efficiency retrofit contract with compliance and energy services provider Correct Contract Services. This work, funded through the Social Housing Decarbonisation Fund (SHDF) Wave 2, will include a range of energy-saving upgrades. Measures such as loft ...
20/11/2024
Kier has been appointed by Cambridgeshire County Council to deliver building, mechanical, and electrical maintenance services across the Council's portfolio of 160 corporate buildings. The contract, which began in November 2024, will run until 2027, with the possibility of two one-year extensions ...
20/11/2024
Builders use water for various functions on the job, they utilise this resource for worker hygiene, hydration, concrete batching, grouting, dust suppression, drilling and piling. If companies mismanage this water use, they can increase their environmental impact. When the industry comes ...
20/11/2024
Edmond Shipway has been appointed to a pioneering initiative tackling homelessness in Greater Manchester, providing project management and cost consultancy services on the second phase of Embassy Village. Set to deliver 40 purpose-built homes for men facing homelessness in Manchester, Embassy ...
20/11/2024
West Sussex County Council is inviting residents to share their views on proposed transport improvements at the Hazelwick and Tushmore junctions on the A2011 Crawley Avenue. The proposals aim to make walking, cycling, and public transport more appealing for short journeys. This initiative is part ...