Construction jobs given boost by £36bn infrastructure investment

RA Now

Planned public and private sector investment of £36 billion in infrastructure could create 150,000 construction sector jobs and thousands in other sectors once completed, the Prime Minister has said.

More than 200 projects are due to start construction in 2014 to 2015, in rail, road, local transport, flood defences, broadband, airport infrastructure and waste management. These include the Mersey Gateway Bridge, the A1 Barton to Leeming motorway upgrade and the Exeter flood defence schemes.

Another 200 infrastructure projects are also due to be completed this year, including the Heathrow Terminal 2 upgrade, Nottingham tram extension and improvements to the M6.

The planned investment comprises £5 billion public investment, £21 billion private investment and £10 billion in joint public and private investment.

“As a crucial part of our long-term economic plan, this government is backing business with better infrastructure so that more jobs and opportunities are created,” Prime Minister David Cameron said.

Chancellor of the Exchequer George Osborne added: “The government has taken radical action to unlock and stimulate private sector investment, which is expected to make up the majority of UK infrastructure investment between now and the end of the decade.

“This has included setting out a plan to generate a wave of new investment in our energy infrastructure through the biggest change to the electricity market since privatisation, and the provision of up to £40 billion of support for critical infrastructure projects through the UK Guarantees Scheme,” Osborne said.

Earlier this week construction firm Skanska announced 1,500 new jobs in the UK across infrastructure and building.