budget 2016: infrastructure investment

Budget 2016Infrastructure Investment

Winning with

The UK Budget 2016 saw a continuation of the Conservative Government’s commitment to

National Infrastructure.

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Following the National Infrastructure Commission’s focus on:

• Transport• Housing

• Community Projects• Energy• Media

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The investment will boost local and

international businesses that rely on UK infrastructure for trade, logistics and power...

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By funding key projects across various sectors, including...

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Transport• £61 billion pledged for the transport network over this Parliament.

• £300 million for improvements to northern transport connectivity.

• £151 million from the Local Majors Fund to fund transformative local transport projects.

• £151 million from the Local Majors Fund for the Lowestoft 3rd Crossing and the Ipswich Wet Dock Crossing.

• £130 million extra to repair roads and bridges damaged by Storms Desmond & Eva.

• £80 million to develop Crossrail 2 (and asking TfL to match this investment).

• £75 million for a Trans-Pennine tunnel under the Peak District between Sheffield and Manchester, as well as advancing the A66, A69 and north-west quadrant of the M60.

• Approving High Speed 3 between Leeds and Manchester.

• Launching the second Roads Investment Strategy, which will determine the investment plans for the period from 2020-21 to 2024-25.

• Accelerating the upgrade of the M62 to a four-lane smart motorway.

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Housing• £1.2 billion to local authorities for the Starter Homes Land Fund to remediate brownfield

land.

• £700 million extra investment in flood defence spending by 2020-21, including a £40 million per annum increase in maintenance expenditure investment for flood defence schemes in

Leeds, York, Calder Valley, Carlisle and wider Cumbria.

• £250 million of capital spending from2017-19 for delivery of 13,000 affordable homes two years early.

• £175 million ring-fenced funding for homes in East Anglia.• Unlocking housing and jobs in the Cambridge-Milton Keynes-Oxford corridor.

• Red tape reduction on Garden Towns and consultation on a second wave of Compulsory Purchase Order (CPO) reforms.

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Community Projects• £1.8 billion (maximum) funding will be allocated through a further round of Growth Deals with Local Enterprise

Partnerships by 2017.

• A further £2 billion of the Local Growth Fund is being allocated through the Home Building Fund.

• £1.2 billion City Deal for the Cardiff Capital Region.

• £900 million for a devolution deal with East Anglia, over 30 years.

• £900 million for a devolution deal with the West of England, over 30 years.

• £125 million commitment to the Aberdeen City Deal.

• £50 million to the Quadram Institute.

• £14 million to the STEAMhouse Birmingham Arts Centre.

• £13 million to Hull UK City of Culture 2017.

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Energy

• £50 million pledged to innovate energy storage, demand-side response and other smart technologies over the next five years.

• £100 million Network Innovation Competition to maximise energy projects (the details of which will be discussed later in 2016).

• £730 million value of Contracts for Difference on renewables, up for grabs in auctions; with the first auction of £290 million.

• £30 million for a Small Modular Nuclear Reactor SMR-enabling advanced manufacturing R&D programme to develop nuclear skills capacity.

• Consultation on the Shale Wealth Fund.

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Media• £20 million Institute for Coding competition continuation.

• £15 million for the National Institute for Smart Data Innovation in Newcastle.

• £14.5 million in grants to extend ultrafast broadband coverage in the South West.

• Assessing UK rollout of 5G, using a case study of the South West of England.

• Establishing a new Broadband Investment Fund, in partnership with private sector investors, to support the growth of alternative broadband networks by

providing greater access to finance.

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UK Government says: “We are giving the green light to High Speed 3 between Manchester and

Leeds; finding new money to create a 4-lane M62; and will develop the case for a new tunnelled road from Manchester to Sheffield.

“We’re making the Northern Powerhouse a reality and rebalancing our country.

““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.”

Chancellor of the Exchequer, George Osborne MP.

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Industry says:

“We welcome the funding announced for further analysis of the Trans-Pennine tunnel, HS3 and Crossrail 2. This should help provide clarity

around the commercial, technical and environmental feasibility of the projects.

“Like with any mega-projects, these three projects have significant hurdles to overcome and this will take time.”

PwC transport and infrastructure partner, Richard Abadie.

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So how can you prepare?

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To seize these opportunities you must keep ahead of public sector contract news, leads

and intelligence.

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Tracker Intelligence offers Europe’s largest database on public sector contracts,

opportunities and analysis.

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Tracker offers more contracts related to construction and infrastructure projects across the UK than any other provider.

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