In November, the construction timeline for the £1bn road upgrade was cut in half following a review by the government’s Project Speed taskforce. Documents
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Date: 27 May 2021
£12bn capitalisation confirmed for Leeds-based Infrastructure Bank
Creation of the UK’s first Infrastructure Bank will unite the private sector and local government in a shared mission to accelerate investment in the country’s infrastructure, according to chancellor Rishi Sunak.
During his Budget speech, Sunak discussed the importance of rebuilding the economy post-Covid and said: “This future economy won’t be created in any one Budget but today we lay the foundations. Our future economy needs investment in green industries across the UK, so I can announce today the first ever UK Infrastructure Bank.
“Located in Leeds, the bank will invest across the UK in public and private projects to finance the green industrial revolution and starting this spring with an initial capitalisation of £12bn and we expect it to support at least £40bn in total investment in infrastructure.”
By Jordan Marshall2021-03-03T19:32:00+00:00
Take a look at some of the key policy announcements for construction
A national infrastructure bank, ongoing covid-19 support and a longer than expected stamp duty holiday extension were all among the headlines from today’s budget.
Speaking in the House of Commons this afternoon chancellor Rishi Sunak made several announcements that are sure to impact construction.
Here are some of the key measures that will affect architects, their collaborators and clients.
Rishi Sunak made several policy announcements that will be significant for construction
Sunak confirmed the furlough scheme will be extended until the end of September with no changes to the terms. Employees will continue to receive 80% of their salary for hours not worked until the scheme ends. Employers will be asked to contribute 10% of this amount from July and 20% from August. Sunak said the furlough extension was to “accommodate even the most cautious view about