William Eichler 05 October 2015

Osborne outlines four-point infrastructure plan

The chancellor has announced a four-point plan that, he claims, will change the way vital infrastructure projects are planned, determined and funded.

The first point includes the removal of planning rules on brownfield sites in order to free up land for development, the directing of the housing budget at new ‘low cost homes for sale’ for first-time buyers, and the extension of the right-to-buy to housing association tenants.

The Government hopes that this latter move will increase home ownership and construction.

The second part of George Osborne’s four-point plan will be the formation of British Wealth Funds. These will be created by pooling the existing 89 Local Authority pension funds into six funds, each one with assets of over £25bn.

The aim of these funds will be to aid the development of expertise in investing in infrastructure in a way that will save money in costs and fees.

The next part of the four-point plan is that the government will bring forward the sales of land, buildings and other assets the Government has bought or built. This should, according to the chancellor, raise £5bn over the course of this parliament, money that can then be invested in infrastructure.

The fourth and final part of the plan is the creation of a new independent National Infrastructure Commission (NIC) that will, according to the chancellor, ‘calmly and dispassionately assess the future infrastructure needs of the country.’

The NIC will be headed by Lord Andrew Adonis who said: ‘Major infrastructure projects like Crossrail and major new power stations span governments and parliaments. I hope it will be possible to forge a wide measure of agreement, across society and politics, on key infrastructure requirements for the next 20 to 30 years and the assessments which have underpinned them.’

SIGN UP
For your free daily news bulletin
Highways jobs

Family Support Worker

Durham County Council
Grade 6 £27,269 - £30,060 (Pay Award Pending)
Do you want to work in an ambitious Local Authority with strong leadership and partnership commitment to Children’s Services? Durham County Council a Durham
Recuriter: Durham County Council

SENDIASS Support Officer

Durham County Council
Grade 8 £31,586 - £35,235 (Pay Award Pending)
An exciting and rewarding opportunity has arisen within the busy and fast paced SEND Information, Advice, Support Service (SENDIASS). The service has Durham
Recuriter: Durham County Council

Residential Worker

Durham County Council
Grade 7 £29,093 - £32,654 (Pay Award Pending)
Salary
Recuriter: Durham County Council

Team Leader

Durham County Council
Grade 8 £31,586 - £35,235 (Pay Award Pending)
Salary
Recuriter: Durham County Council

Class Teacher

Durham County Council
£31,650- £33,483
Class Teacher MPS 1 -2   £31,650- £33,483 Temporary – required from Monday 1st September 2025 (subject to DBS) until 31st August 2026 25 hours per wee Durham
Recuriter: Durham County Council
Linkedin Banner