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Infrastructure finance - devolution deals for 2 regions
The Budget contained a range of public expenditure announcements that could result in funds being accessed, or contracts bid for.
These infrastructure announcements include (in no particular order):
The National Productivity Investment Fund will be extended for a further year with total funding increased to £31bn.
There will be an additional £23bn for investment in R&D.
Regulators' pioneer fund
Plan to unlock £20bn for new investment in UK scale-up businesses, through:
- new fund in the British Business Bank, seeded with £2.5bn of public money
- facilitating pension fund access to long-term investments
- doubling EIS investment limits for knowledge intensive companies from £1m to £2m.
Electric vehicle technology
The chancellor announced:
- £400m charging infrastructure fund
- £100m in Plug in Car Grant
- £40m in charging R&D.
£220m Clean Air Fund to support implementation of local air quality plans.
A range of spending commitments to support education including £20m to support further education colleges to prepare for T-levels.
Boosting digital skills via £30m in the development of digital skills distance training courses.
- £28m in 3 new 'Housing First' pilots in West Midlands, Manchester and Liverpool
- £630m small sites fund to facilitate delivery of 40,000 homes
- £2.7bn to more than double the Housing Infrastructure Fund
- £400m for estate regeneration
- £1.1bn to unlock strategic sites
- £8bn of new financial guarantees to support private house building and purpose-built private rented sector
- £34m to develop construction skills.
- £30m on digital connectivity on trains on Trans-Pennine route, £337m investment in replacement rolling stock for Tyne & Wear.
Contact us to discuss how Autumn Budget 2017 may affect you.