British Government Unveils $634 Billion Infrastructure-Investment Plan

The U.K. mapped out its infrastructure-investment plan, disclosing 500 billion pounds or $634 billion worth of projects slated to be launched in the following years.

Government investment constitutes around 40% of the infrastructure-investment pipeline after British Finance Minister Philip Hammond detailed plans for a National Productivity Investment Fund in November estimated to amount to 23 billion pounds. Infrastructure projects included are the Thames Tideway Tunnel, smart meters and upgrading the A14 highway located in eastern England.

Funding from the private represents more than half of the pipeline to 2020-2021, aiding in delivering projects varying from transport and internet connectivity to flood defenses and housing, according to the Treasury.

In a statement, Treasury Chief Secretary David Gauke said the spending plan is a clear indication that the government is intent on ensuring that U.K.'s infrastructure is up to date.

Enhancing productivity using targeted investments was the major goal laid out by Hammond during his Autumn Statement as he readies the British economy from any Brexit-induced shocks.

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