Government to support £30bn of railway investment

Aaron Morby 4 years ago
Share

The Government has outlined plans to support £30bn of investment in the railways in the period 2014 to 2020.

This includes committing £16bn of funding for High Speed 2 up to 2020, and earmarking the total £42.6bn cost of construction over the course of the project.

It will also establish a HS2 growth taskforce chaired by Lord Deighton to capitalise on the growth opportunities across the country resulting from HS2.

Danny Alexander, Treasury chief secretary, said the investment made the “Coalition the most pro-rail government in modern history”.

The London Mayor will also get £2m to look at the feasibility of attracting private finance to the £12bn Crossrail 2 project, which will only go ahead if it can raise half the cost from the private sector.

An extra £115m has been committed to the electrification of the Gospel Oak to Barking rail corridor.

There was also confirmed support for Network Rail to invest over £9bn in major rail projects
between 2014-15 and 2018-19.

These projects include stronger east to west links from Liverpool to Newcastle through the
Northern Hub, the opening of the Bedford to Oxford line.

The Government also committed to major electrification on the Great Western line and a new ‘Electric Spine’ between Yorkshire, the Midlands and the south.

Latest news

Highways England delays 22 major road projects

Programme rescheduling sees raft of projects delayed and 10 brought forward
2 days ago

Vinci looking for new suppliers on university job

Package contractors wanted for Swansea University job: Register your interest now
2 days ago

Interserve lands £227m government maintenance deal

Contract wins still coming amid profit warnings
2 days ago

£345m confirmed for 76 local road projects – full list

Funding package includes £101m for a major project in Cheshire and one in Worcester
2 days ago

Four firms in race for Scottish road upgrade

Winner set to be announced next Spring for new stretch of A737
2 days ago

Aarsleff MD exits in management shake-up

Danish parent company to refocus UK business
3 days ago

Lagan Building on the hunt for new North West suppliers

Open day next week to highlight work opportunities: Register now
3 days ago

Betting Spy: West Ham can shock Spurs in the cup

Price is too big on visitors who could face a Tottenham second string
3 days ago

Interserve likely to breach banking covenants

Interserve in talks with banks as rising cost of exiting energy from waste prompts another profit warning
3 days ago

Hinkley chief buyer joins Murphy

Laing O'Rourke procurement head Ian Holcroft joins rival contractor
4 days ago

Marshalls expands in drainage market with CPM acquisition

Building products giant buys concrete pipe specialist for £38m
3 days ago

Lovell poaches Quintain director for London MD role

Ben Giddens joins as London regional managing director
4 days ago

Amey highways drivers wear anti-dozing collars

Contractor trials range of wearable technology to make workplaces safer
3 days ago

Skanska schools director joins Wates

Martin Kramer joins Wates as Home Counties pre-construction director
4 days ago

Clugston to start £13m Leeds College of Building job

Phase 2 of Hunslet Campus in Leeds gets underway
4 days ago

Architect trio advance £200m Gateshead Quay plan

Plan for conference and exhibition centre to be submitted by the end of next year
4 days ago

O’Rourke firms fined £3.8m after concrete factory death

Court hears how worker was crushed by 11 tonne concrete panel

Lendlease profit rebounds despite Scottish problems

UK construction business returns to strong profit
4 days ago

McAlpine to start HMRC office at Cardiff central square

Work to start on fourth major office build at £400m city centre regen scheme
4 days ago

Prime Minister summons house builders to strategy meeting

Theresa May looks to boost construction levels
4 days ago

Muse leads £75m Dartford town regen scheme

Work to start in spring 2019 on Westgate mixed-use scheme
5 days ago

BAM submits £32m Jedburgh campus plan

Work to start in spring on borders all-through school campus
4 days ago

Trio picked for Midlands multi-storey parking plan

Bourne Parking, Blackwells and Dawnus in line for multi-storey park and ride programme
5 days ago

Multiplex staff let go as sites run down

Site office teams broken up as schemes nearing completion
5 days ago

Bouygues set for £300m Cavendish physics lab

Cambridge University awards first contract under new framework
5 days ago

Murphy to install 60km underground power cable

Contractor to smash UK record for horizontal drilling
6 days ago

McMullen lands £11m cladding package from O’Rourke

Specialist to start on site in April at Liverpool cancer hospital
5 days ago

Bellway delivers 11% rise in home completions

Bellway plans to open new division in the north as demand surges
5 days ago

Mace seeks to boost transport consultancy

Mace makes two senior appointments to drive airport and highways work
5 days ago

Lidl to build its largest UK warehouse in Peterborough

New £80m warehouse is discount giant's 6th to be announced this year
6 days ago

Contractor services