Budget 2014: More money for roads and rail
19 March 2014
Author: Rupert Saunders
The Government continues to put extra money into infrastructure projects to stimulate economic growth, especially in the regions.
There was an announcement of an extra £200m in the Budget to establish a 'potholes challenge fund' for local councils to repair potholes caused by the recent bad weather. Councils will have to bid for the money.
The Chancellor also announced government approval of a guarantee of up to £270 million to support investors in the Mersey Gateway Bridge. He said work can now begin on this critical infrastructure project which will help relieve traffic congestion across the Mersey and promote regeneration in the region.
The Government has also agreed that the Welsh government can use existing borrowing powers to begin investing in improvements to the M4 and will commit £100 million to Greater Cambridge until 2019-20 to support their transport and infrastructure proposals.
The Government has agreed to Sir David Higgins' proposals to accelerate the building of the HS2 high speed rail and asked for proposals open the line to Crewe by 2027, six years earlier than planned.
It is exploring options for undertaking a substantial redevelopment of Euston station in London.