Roads included in multi-billion pound investment
By: Chris Taylor
28 November 2011
A multi-billion pound government investment, aimed at getting the economy moving, is expected to include around 40 infrastructure projects.
Chief secretary to the treasury Danny Alexander says that he expects around £5 billion to be made available for such projects - set to include both rail and road schemes - within the next two years.
A further £25 billion will come in the long-term, as the government is looking to big British pension funds, as well as Chinese investment, to deliver the funding, reports Reuters.
Improving the roads, their lanes, and surfaces will of course not only benefit hundreds of thousands of British motorists, but those involved in driving work also.
According to BBC News, just some of the 40 projects earmarked for development include making improvements to some of Britain's busiest motorways; the M25, M3 and M56.
There are also proposals to extend the Northern line tube service in London to Battersea as well as improve the Metro (underground) system in Tyne and Wear.
In an interview with the BBC, Mr Alexander said he was surprised to hear that other projects, such as the recent extension to Birmingham airport's runway, had also been funded by pension funds, which lead to the idea.
"We think that British pension funds should be able to invest," he said.
"We're putting in place a new arrangement with private pension funds - which is the first time this has been done in this country - to try and unlock pension fund money to go into infrastructure."
The announcement comes just a day before chancellor George Osborne lay outs the government's future spending plans in the autumn statement.
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