The UK government’s Infrastructure and Projects Authority has set out a £ 650bn investment plan that will be made up of public and private money. The funds will be spent over the next decade.
The national infrastructure and pipeline construction plan, published monday, will support 425,000 jobs per year over the next four years.
“Such an infrastructure is essential if the government is to achieve its long-term ambitions for people and businesses across the UK: ambitions to level up across the country, to strengthen the Union, to meet development goals sustainability of the United Nations and put the UK on the right track. to net zero emissions by 2050, ”the government said.
The government added that £ 89bn of investment would be targeted in social infrastructure. Some £ 2.5 billion will fund 165 community education projects, including major reconstruction projects in sixth grade schools and colleges.
The plan also says the UK Infrastructure Bank (UKIB) will provide financial support for private sector and local authority infrastructure projects across the country to help meet targets on climate change and regional economic growth.
“The Bank will be able to deploy £ 12bn of equity and debt capital and will be able to issue up to £ 10bn of guarantees, as well as a range of financing tools to support projects infrastructure and, from the summer, provide loans to local authorities for strategic infrastructure projects, ”the government said.
Achieve zero net gas emissions
Another area of intervention will be the modernization of existing buildings, to achieve zero net greenhouse gas emissions by 2050.
Buildings account for almost a third of the UK’s total greenhouse gas emissions, with houses alone responsible for 22%, mostly through heating.
“The vast majority of the buildings we will be using in 2050 already exist, and most waste heat and money. The current landscape of modernizing our existing buildings lacks the certainty, consumer confidence, demand and investment needed to reach the scale needed to meet the UK’s net zero targets, ”the government explained. .
He added that a modernization market could also unlock a range of broader economic benefits, such as creating opportunities for the deployment of innovation and an expanding market for green jobs across the country.
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