Infrastructure finance - devolution deals for 2 regions

The Budget contained a range of public expenditure announcements that could result in funds being accessed, or contracts bid for.

These infrastructure announcements include (in no particular order):

Industry

The National Productivity Investment Fund will be extended for a further year with total funding increased to £31bn.

There will be an additional £23bn for investment in R&D.

Regulators' pioneer fund

Plan to unlock £20bn for new investment in UK scale-up businesses, through:

  • new fund in the British Business Bank, seeded with £2.5bn of public money
  • facilitating pension fund access to long-term investments
  • doubling EIS investment limits for knowledge intensive companies from £1m to £2m.

Electric vehicle technology

The chancellor announced:

  • £400m charging infrastructure fund 
  • £100m in Plug in Car Grant
  • £40m in charging R&D. 

Environment

£220m Clean Air Fund to support implementation of local air quality plans. 

Education

A range of spending commitments to support education including £20m to support further education colleges to prepare for T-levels.

Boosting digital skills via £30m in the development of digital skills distance training courses.

Housing

  • £28m in 3 new 'Housing First' pilots in West Midlands, Manchester and Liverpool
  • £630m small sites fund to facilitate delivery of 40,000 homes
  • £2.7bn to more than double the Housing Infrastructure Fund
  • £400m for estate regeneration
  • £1.1bn to unlock strategic sites
  • £8bn of new financial guarantees to support private house building and purpose-built private rented sector 
  • £34m to develop construction skills.

Regional

  • £30m on digital connectivity on trains on Trans-Pennine route, £337m investment in replacement rolling stock for Tyne & Wear.

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