Plans for more than 50 road and rail upgrades look set to support the construction of up to 39,000 new homes, according to the government.
The government announced late last night that the green light had been issued for major new projects, including the long awaited A66 Northern Trans-Pennine route and Portishead to Bristol city centre rail line.
Five major road schemes in the north and Midlands are confirmed as funded including the M54 to M6 link road in Staffordshire, which will cut journey times and connect thousands to key economic hubs across the Midlands.
The M60/M62/M66 Simister Island (Greater Manchester), connecting to developments which could support 20,000 new jobs and 7,000 new homes if planning approval granted, has also been confirmed as funded, alongside the A38 Derby Junctions (Derby) which will support 15,400 new homes and A46 Newark Bypass in Nottinghamshire, which could support thousands of new jobs and homes, if planning approval is granted.
The A66 Northern Trans-Pennine will also be delivered and will cut journey times across the north, support over 10,000 new homes and connect millions across the region as a key national and international economic route.
The government has also announced key rail projects across the country, including reinstating a passenger rail line between Bristol city centre and Portishead, which last ran over 60 years ago, delivering three brand new train stations, bringing thousands more people closer to a railway and funding a Midlands Rail Hub, creating brand new rail links for more than 50 locations.
Rail investment outside of London and the South East is long overdue, which is why the government is confirming additional funding right across England and Wales, which will improve access to jobs and leisure and stimulate housing growth in the regions.
Transport Secretary Heidi Alexander said: “Transport is the backbone of our economy, which is why we are giving them the record funding boost they need, putting taxpayers’ money where it matters most and making everyday journeys easier.
“With over £92bn investment, including the biggest ever boost for city regions in the north and Midlands, we’re delivering the schemes that fast-track economic growth and jobs, connect communities, and will help us build 1.5 million new homes, as we deliver our Plan for Change.
“We’re forging ahead with the vital new transport infrastructure Britain needs, and improving what we’ve already got, to deliver a new era of renewal and opportunity.”
Over 42,000 new jobs and 39,000 new homes are estimated to be supported thanks to the funding committed for major road schemes, helping deliver the government’s Plan for Change to boost economic growth, and build 1.5 million more houses over five years.
The chancellor, Rachel Reeves, added: “These vital investments are long overdue, will transform local communities and improve living standards across the country.
“Investments like these are only possible because we took the right decisions to stabilise our public finances and changed the fiscal rules so we can invest in Britain’s renewal, grow the economy and put more money in working people’s pockets.”
