Flood defence work gets £700m Budget boost

Aaron Morby 1 year ago
Share

Chancellor George Osborne has pledged to pump £700m extra spending into boosting the country’s battered flood defences.

Chancellor maintains momentum for next wave of major projects
Chancellor releases vital kick-start funding to maintain momentum behind next wave of major projects

The extra cash will bring forward urgently needed schemes in the worst hit areas across Cumbria and Yorkshire.

In today’s Budget the Chancellor said he would find the cash from raising the standard rate of Insurance Premium Tax by just half a percentage point.

He said: “The urgent review already underway by the Environment Secretary and the Chancellor of the Duchy of Lancaster will determine how the money is best spent.

“But we can get started now. I have had many representations from colleagues across the House.

“So we are giving the go ahead to the schemes for York, Leeds, Calder Valley, Carlisle and across Cumbria.”



Osborne has confirmed Government backing for the HS3 project between Leeds and Manchester and Crossrail 2 in London.

In hard cash terms, the Government will release £60m to develop plans to cut journey times to around 30 minutes between Leeds and Manchester, as well as improving transport connections between other cities in the north.

A further £80m will be released to fund development work for the Crossrail 2 link to connect south west and north east London.

The Chancellor said the Treasury was also brining forward £161m by two years to create a 4-lane M62, and will develop the case for a new tunnelled road from Manchester to Sheffield. In the North Pennines he also pledged to bring forward upgrades to the A66 and A69.

The government will also spend £50m on a world-leading centre for food and health research at Norwich, £2m refurbishing the Hall for Cornwall in Truro, and £5 million support to the Shakespeare North project to establish a new theatre in Knowsley.

“Across Britain this Budget invests in infrastructure – from a more resilient train line in the South West, to crossings at Ipswich and Lowestoft in the East – we are making our country stronger,” he added.

Further Budget infrastructure project details; Northern Power project start dates.

Budget 2016

Industry response

Mark Perkins, managing director at Wates-owned SES Engineering Services, said: “The next five years certainly looks bright for UK infrastructure, let’s hope that the reflected benefits of these developments are really felt in the wider economy and industry.”

Mark Cleverly, Head of Commercial Developers at Arcadis, said: “The outlook for population growth and prospects for development activity rippling out to the commuter towns and locations in the South East benefitting from Crossrail 2 now look very strong indeed, whereas the Northern Powerhouse cities of Manchester, Leeds potentially appear set for a golden period of regeneration.

“These infrastructure investments could pave the way for a re-balancing of the country and a 20 year renaissance in property development across the Midlands and the North.”

Dave Sheridan, Chief Executive of Keepmoat, said: “The reform to business tax, reduction of business rates and corporation tax will allow small businesses in our supply chain to grow quicker and become more stable, which will only help the housing sector in the long term. 

“The cut in capital gains tax may encourage landowners to sell their land to developers without fear of high tax rates, which could open up more opportunities for building much needed homes. “

Tony Kearns, operations director for rail at WSP | Parsons Brinckerhoff, said: “This commitment to major railway investments nationwide gives the engineering sector the confidence to recruit in preparation and develop the skills the industry needs to deliver these ambitious schemes.

“We now need the education sector to play a role in encouraging more young people into engineering to help us produce more high quality rail engineers.”

Institution of Civil Engineers director general, Nick Baveystock, said: “While the headlines are focussed on important large projects, the upkeep of our existing infrastructure – from flood defences to local roads – should not be forgotten.

“We await details on any local authority cuts and the impact on maintenance budgets, and will continue to encourage a shift from reactive patch-up work towards a ‘whole life’ approach to infrastructure investment.”

Latest news

London concrete specialist soars to record profit

JRL quadruples profit on strong concrete frames and crane hire trading
7 hours ago

Graham bags £50m Kew Gardens revamp

Firm to refurbish historic Grade I and Grade II listed buildings over five years
7 hours ago

Firms sentenced after four killed in site excavation tragedy

Companies fined £700,000 after disaster in Norfolk
4 days ago

BAM books in £35.5m refurb deal at listed castle

Studley Castle will become hotel owned by Butlin's group
4 days ago

Carillion plans job losses as rail spending cuts bite

Union vows to fight against redundancies as renewal spending falls
5 days ago

Ardmac wins fit-out deal at Kirkstall Forge

Work to start next month on new offices for vehicle leasing specialist
4 days ago

McLaren lands £38m Brighton College sports and science centre

Contractor bags third major deal in five years with college
5 days ago

CITB to sell awarding body

Cskills Awards to have new owners
4 days ago

Balfour to close seven offices in Scotland

All operations north of the border to be directed from one new main office
5 days ago

Cemex drivers call off strike plans

Fear of disruption to site materials deliveries subsides as pay deal struck
5 days ago

Nine firms win places on £225m modular framework

Fusion 21 picks winners for education authorities to use
6 days ago

Winners revealed for LHC modular buildings deal

Big week for offsite as another major framework agreed
5 days ago

Helical bullish about London office market

Developer focuses on London, Manchester and logistics sites
5 days ago

Tarmac poaches director from FM Conway

Surfacing boss Toby Pyper to join Tarmac next month
5 days ago

Private rented sector fund raises £250m

Investors pile-in to new PRS fund looking for stakes in new schemes across the country
5 days ago

Race starts for first £15m Brent Cross infrastructure deal

Roads and utilities work to pave way for £1.4bn shopping centre revamp
5 days ago

Developers scale down plans for Wylfa nuclear plant

Number of construction workers needed falls to 8,500 from 10,000
6 days ago

Facebook snub prompts refurb rethink on Oxford Street

Great Portland Estates considers more extensive revamp at Oxford House
6 days ago

McLaren lands deal to fit-out new home of the FT

Newspaper staff will have a running track on the roof of New Bracken House
7 days ago

Skanska appoints new head of building business

Katy Dowding promoted as contractor unveils management reshuffle
7 days ago

Bid race begins for £20m mega car park

Port of Southampton plans largest car storage facility yet
6 days ago

MVS Group lands mechanical deal at new Spurs stadium

Midlands specialist boosts turnover and opens new North West office
6 days ago

BAM wins £20m Sheffield school

Mercia secondary school will open late next year
7 days ago

Sparks down tools on Skanska Crossrail sites

Electricians "cabin-up" in row over bonus pay and union recognition
7 days ago

Renew pulls out of low pressure gas mains work

Forefront Utilities business to focus on medium pressure replacement schemes
7 days ago

Wonky crane gets Multiplex out of a tight fix

Ingenious crane design at London's tallest tower site
7 days ago

200 Quadrant Construction staff face restructure

L&Q to close Quadrant Construction brand in big shake-up of development activities
7 days ago

Construction to start on £100m Bath resi scheme

Investment fund buys former Bath Press site
7 days ago

Three bosses jailed after fatal roof fall

Court hears how safety measures were ignored to save money
1 week ago

Property firm merges with main contractor

Wigley Building and Development will target projects up to £12m
1 week ago

Contractor services