Government poised for £50bn construction cash boost
Published: 15 November, 2011
LONDON: The government is understood to be preparing plans for a £50bn construction investment programme which will include social housing along with infrastructure investment on power stations and roads.
The move follows massive pressure from construction chiefs and business leaders to boost investment in the UK's infrastructure.
According to press reports the plans will be revealed alongside the Autumn Statement on November 29. The schemes will be on top of the 40 road, rail and national grid improvements which are already in the pipeline and will be speeded up.
The money is expected to be raised from the private sector.
The government hopes that private sector investors will be attracted to the plan, given the low current rate of return from traditional investments.
Business secretary Vince Cable said: "We know there's a large amount of institutional investment in pension funds and insurance companies looking for a safe return."