Up to 2,000 jobs boost thanks to £120m infrastructure investment
Tuesday February 9th, 2016
Up to 2,000 jobs are set to be created thanks to a £120m capital investment for infrastructure projects across Wales during 2016-17, Finance and Government Business Minister Jane Hutt announced.
Ahead of a debate on the Welsh Government Draft Budget 2016-17, the Minister confirmed a range of pan-Wales projects will benefit from the additional capital investment in line with the priorities set out in the Wales Infrastructure Investment Plan. These include:
- £50m for priority transport projects;
- £10m for the 21st Century Schools and Education Programme to support projects that will enhance skills for post-16 students;
- £10m for Intermediate Care Fund, focusing on ‘step-down’ and re-ablement facilities for people with complex needs to support independent living and reduce demand on health services;
- £10m for the Wales Ambulance Service Trust for the replacement of vehicles;
- £5m for Green Growth Wales, providing repayable energy efficiency grants across health, local authorities and education; and
- £3m for Warm Homes / Arbed, to tackle fuel poverty through green growth by investing in domestic energy efficiency measures.
A further £10m will be allocated towards neonatal investment in developments across West, South and North Wales.
A total of £20m of financial transactions (repayable loans and equity investment) will support housing and regeneration projects across Wales, including:
- £10m Land for Housing – the scheme will provide recyclable loan funding to registered social landlords to purchase land to support housing supply; and
- £10m Town Centre Loan Fund – expanding the current scheme to invest in empty and underutilised buildings by at least 40 initiatives.
The capital boost is in addition to the £43m for schools and social housing recently announced by the Finance Minister for 2015/16.
Jane Hutt said:
“Investing in infrastructure is key to our approach to supporting sustained economic growth. Every part of Wales will benefit from this £120m investment of Capital funding in our infrastructure, and my announcement today has the potential to create around 2,000 jobs during the construction phase, boosting growth and supporting the delivery of more efficient public services.
This is on top of the £43m immediate capital boost I recently announced for schools and social housing across the country. It is yet further evidence of how the Welsh Government is investing in a Fairer, Better Wales and investing in the future.”
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