News

UK Budget 2020: Infrastructure and Construction Highlights

Chancellor of the Exchequer, Rishi Sunak, delivered his inaugural UK budget in the House of Commons On 11 March 2020.

After delaying the planned Autumn Budget in 2019, due to the General Election, this was one of the most anticipated budgets in recent history – especially for those working within the infrastructure and construction sectors.

Tracker reviews the latest government spending plans under the newly elected Conservative government below.

Budget 2020

The first UK budget of a new decade has been announced.

Many suspected that the Chancellor would promise biggest spending plans on roads, housing and rail in generations, as the newly elected Prime Minister Boris Johnston, has promised an тАШinfrastructure revolutionтАЩ during his time in Downing Street.

For now, the National Infrastructure Strategy has been delayed, but within the budget there were many prosperous investment plans for those working within the sector.

Infrastructure and Construction Highlights

Although Mr Sunak has only been in his role as Chancellor for less than a month, he asserted that тАЬif the country needs it, we will build it.тАЭ  Broadband, railway, roads and housing were all on the agenda.

The infrastructure and construction highlights have been highlighted below.

Roads and potholes

Mr Sunak thanked the Transport Secretary for his efforts during the budget announcement, after making тАЬthe biggest ever investment in strategic roads and motorway.тАЭ

During this section of the announcement, it was revealed that:

  • ┬г27 billion will be spent building and developing more than 4,000 miles of strategic and local roads in England between 2020-2025.
  • A ┬г5 billion pothole fund will be introduced, which is expected to fill in 50 million potholes. This equates to ┬г500 million dedicated to filling potholes each year.

Broadband and connectivity in rural locations

During the Conservatives election campaign the party promised to тАЬlevel upтАЭ broadband if they were elected into power.

Mr Sunak insisted that this was the тАЬBudget of a Government that gets things doneтАЭ and made a number of broadband commitments.

  • ┬г5 billion of funding dedicated to implementing gigabit-capable 4G broadband to far reaching and remote places in the UK, bridging infrastructure with digital transformation.
  • Investing ┬г510 million into the shared rural mobile phone network so that 4G coverage in the next five years will encompass 95% of the UK.

Housing

Exiting this years budget, the mood for builders is positive. To ensure that тАЬpeople have affordable and safe housingтАЭ, Mr Sunuk has made a number of commitments.

  • There will be a ┬г10.9 billion increase in housing investment to support the building of at least 1 million homes by the end of this Parliament, and an average of 300,000 new homes a year by the mid-2020s.
  • The Government is extending the Affordable Homes Programme with a new, multi-year settlement of ┬г12.2 billion.
  • ┬г1 billion from the Housing Infrastructure Fund will be allocated to building nearly 70,000 new homes in high demand areas of the country.
  • ┬г1 billion for a тАШGrenfell fundтАЩ will support the governments plans to remove dangerous cladding from tall buildings.

Greener initiatives and flooding

Mr Sunak also addressed the winter storms and flood damage that followed, He promised ┬г200M for immediate repairs to local flood resilience.

We breakdown the spend for flooding and greener initiatives below.

  • ┬г2 billion of funding towards doubling flood defences over the next five years, which, it is hoped, will protect 300,000 properties.
  • ┬г500 million to support the roll-out of new rapid charging hubs for electric cars, ensuring that drivers are never more than 30 minutes from a charging station.
  • ┬г640 million to plant more than 40 million trees and restore 35,000 hectares of peatland over the next five years.
  • Introduction of a plastic packaging tax to tackle plastic waste.

Long term infrastructure plans

These spending plans may not come as a surprise for those within this industry, as mentioned in TrackerтАЩs latest Spotlight on Infrastructure and Utilities, some ┬г600Bn of both private and public investment is expected to fund infrastructure development over the next ten years.

This massive investment across nearly 700 projects looking to improve UK roads and rail, hospitals and schools, utilities, energy and communications. TrackerтАЩs Commercial Projects provides unique and comprehensively researched data that is exclusive to the Tracker business solution tool, such as planning permissions for such projects to support suppliers to engage early with buyers.

Stay up to date with UK spending plans

Know what the UK government is spending on тАУ and with whom.

Our Spend Analysis tool collates and publishes all UK defence sector and public sector spend data. Tracker customers can gain access to the latest spend figures from government departments as the contracts are awarded – ahead of industry competitors.

Don’t wait until 2021 for the next budget announcement. Find contracts and access intelligence now using TrackerтАЩs Spend Analysis and Archive Data with your free trial today (no credit card required)

 

 

Who are we?

From publishing the first national directory of public sector contracts, to being the first to market with our online Tracker solution, we have been the true pioneers of technology and innovation in the public sector marketplace. Throughout our 39 years, we have continued to evolve and chart new territory – placing our customers at the heart of everything we do. Take your business to the next level with Tracker now.

Try out Tracker Today

Try out Tracker Today