Infrastructure

The Government:

•  will set out a new strategy for coordinating public and private investment in UK infrastructure. The Government will use the savings from current spending generated over the Spending Review 2010 period to fund £6.3 billion of additional infrastructure spending, of which £1.3 billion was announced earlier in the autumn. Alongside this, around £1 billion of new private sector investment in regulated industries will be supported by government guarantee. The Government is also announcing commitments to £5 billion of capital projects in the next Spending Review period, as part of the National Infrastructure Plan;

•  has signed a Memorandum of Understanding with two groups of UK pension funds to support additional investment in UK infrastructure. The Government is also working with the Association of British Insurers to set up an Insurers' Infrastructure Investment Forum, and will target up to £20 billion of investment from these initiatives. In total the Autumn Statement supports around £30 billion of new capital investment; and

•  will increase the Regional Growth Fund for England by £1 billion, plus Barnett consequentials for the devolved administrations, and extend it into 2014-15, to provide ongoing support to grow the private sector in areas currently dependent on the public sector.