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Infrastructure: Investment

Question for Treasury

UIN HL12125, tabled on 13 January 2021

To ask Her Majesty's Government what plans they have to invest in infrastructure for local communities and businesses in order to address any impacts of the UK–EU Trade and Cooperation Agreement.

Answered on

27 January 2021

At the Spending Review, the government set out key infrastructure commitments that will bolster local communities and businesses. Amongst others, this included £5 billion to support UK-wide gigabit broadband roll-out and £4.2 billion intra-city transport settlements, both of which will have a significant impact on local economic growth.

The new Levelling Up Fund worth £4 billion for England, will attract up to £0.8 billion for Scotland, Wales and Northern Ireland in the usual way. This will invest in local infrastructure that has a visible impact on people and their communities and will support economic recovery. It will be open to all local areas in England and prioritise bids to drive growth and regeneration in places in need, those facing particular challenges, and areas that have received less government investment in recent years.

Furthermore, the government announced a new infrastructure bank that will support private projects alongside lending to mayors and local authorities in order to support their infrastructure ambitions. The government will set out further details on the scale, mandate and operations of the Bank at the Budget.

Answered by

Treasury