Budget 2020: £600 billion boost to Britain’s infrastructure

11 March 2020

Chancellor Rishi Sunak has announced a raft of measures to invest in Britain’s roads, railways, housing and broadband over the next five years. 


Chancellor Rishi Sunak has announced a raft of measures to invest in Britain’s roads, railways, housing and broadband over the next five years. 

Mr Sunak announced an investment of £27 billion in Britain’s roads, which includes the second round of Major Road Network and Large Local Major schemes proceeding to the next stage of development, plus a £2.5 billion fund to repair Britain’s potholes, aiming to fill 50 million potholes and resurfacing roads over the next five years.

The government is investing £4.2 billion in the transport networks of eight city regions across England from 2022-23. Funding will be delivered through five-year, consolidated transport settlements.

In the wake of the Grenfell Tower tragedy, he has included a £1 billion safety fund to remove unsafe cladding from high-rise buildings as part of the Government's Building Safety Fund.

He has also pledged £5 billion for state-of-the-art broadband in the most remote areas.

Other measures include £12 billion for building affordable housing. Its Affordable Housing Programme will have £9.5 billion more to spend on affordable homes in England.

Mr Sunak says that there will be almost £1.1 billion allocated from the Housing Infrastructure Fund to build nearly 70,000 new homes in high demand areas across the UK.

A new £400 million Brownfield Housing Fund aims to create more homes on brownfield land in areas such as the West Midlands.

Some £650 million has been put aside to help Britain’s rough sleepers back into accommodation. There will be a stamp duty surcharge of 2% for non-UK residents from April 2021 to help pay for it. 

Following the winter floods, the Government will invest £5.2 billion in a six-year flood defence programme.

Hew Edgar, head of RICS UK Government Relations & City Strategy, comments: “There is lots in today’s budget to applaud and the Chancellor has clearly been listening to RICS - particularly with the long term review of business rates which needs to happen quickly for firms to plan ahead, and the £1billion cladding remediation fund which will give more leaseholders and homeowners certainty and ensure where they live is safe.  

“Levelling-up the country isn’t about what is said at the dispatch box, but the £600 billion to be spent on new infrastructure stands to transform all parts of this country – however we must learn the lessons of projects like Heathrow and Cross Rail to ensure this is delivered effectively for taxpayers. Our professionals can help ensure projects that make a real difference to peoples’ lives are delivered on time and on budget.

“Delivering green, new housing required an ambitious approach to VAT – not superficial tweaks to stamp duty –  so we’re disappointed the Chancellor didn’t support the property industry to retrofit thousands of buildings, turning them into places people would have loved to call home.”



Budget 2020

Now we've got rid of the blood sucking EU we have more money to spend on our own people.

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