Limited company contractors and freelancers will be pleased to hear that the government will be investing an extra £5 billion into infrastructure spending, which will in turn create new jobs across the UK.
Chancellor George Osborne, revealed during the Autumn Statement, that the £5 billion from capital investment will be put into the country’s roads, train networks and broadband access, which will no doubt create new job opportunities for contractors and permanent workers alike.
Among the improvements to be made, upgrade work on the A1 will bring the London to Newcastle route up to the standard of a motorway, as well as extra work on the M24 Thurrock area and a link will be built between the A5 and M1.
The Chancellor of the Exchequer also explained that the government infrastructure spending, which has increased to £33 billion per year, will be looking to provide ultrafast broadband speeds to 12 of the smaller cities, which will include Cambridge, Portsmouth and Brighton.
The Confederation of Businesses has welcomed the government’s latest announcement; John Cridland, director-general of the CBI, said, “It is absolutely right to shift the focus from current to capital spending to boost jobs today and the UK’s competitiveness tomorrow”.
This package of £5 billion infrastructure investment targets some key projects – such as the tube to Battersea, the A1 upgrade and 100 new schools – that should help strengthen our infrastructure.”
He added, “The government has also identified some quick wins by focusing money on repair and renewal of our congested local roads.
We back speeding up the release of public sector land and throwing efforts behind kick-starting large, stalled sites to get the housing market moving.”