Welsh Government
 Printable version
|
 E-mail this to a friend
|
“Infrastructure investment will remain a priority for the Welsh Government” - Jane Hutt
The WIIP was published in May 2012 and since publication some £1.3bn has been levered into infrastructure projects that will be delivered over the next decade. Almost £462m of the additional investment has come from capital reserves, in the short term this 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.
Speaking during Plenary Jane Hutt called on the UK Government to increase capital budgets. She said:
"We have called – and will continue to call – on the UK Government to increase capital budgets to boost infrastructure investment to stimulate the economy. This call was echoed by last month’s IMF ‘Article IV’ health check on the UK economy.
"Our approach has been to find new, innovative ways of financing the priorities set out in the WIIP so we can boost our reducing budgets and continue to improve Welsh roads, build new schools, hospitals and homes while also supporting the construction industry."
The innovative finance initiatives that have been implemented will increase capital investment in Wales by around £900m between 2012-13 and 2018-19. This includes:
- £170m investment in roads
- £300m to complete dualling of the A465 by 2020
- £100m investment in affordable housing through the Welsh Housing Partnership
- More than £100m of investment through a new mechanism to finance social housing
- £200m investment in the 21st Century Schools Programme
Speaking about the importance of collaboration across the public sector Jane Hutt added:
"When the Plan was published last year it included a pipeline of key Welsh Government infrastructure schemes across all sectors. Since then, we have pushed to improve visibility and clarity around infrastructure investment in Wales.
"I am very pleased that the updated pipeline being published today also includes information on Local Government investment schemes. This is a significant step towards us having a complete infrastructure investment picture for Wales.
"In addition to working with Local Government 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.
"We will continue to take this work forward and look at ways of improving the planning, financing and delivery of the infrastructure Wales needs for the future. With this in mind, the Infrastructure Plan will sit at the heart of my work to establish a Welsh Treasury as we look to develop ever more effective management and investment of our resources."
.gif)
