Prime minister pledges to invest in UK infrastructure
31 October 2011
Posted by Michelle Devonshire
The UK could see a boom in construction projects using Eurocodes after Prime Minister David Cameron declared that more will be done to back industry and infrastructure in Britain.
In an article for the Financial Times, he has stated that the crisis in the Eurozone is continuing to restrict growth and more needs to be done to ensure that building schemes move forward.
The Prime Minister noted that sometimes developments are stalled by red tape or funding problems, adding: "This autumn the government is on an all-out mission to unblock the system and get projects under way."
According to Mr Cameron, the Government intends to create employment as conditions remain difficult and take advantage of opportunities posed by the global economy.
Deputy Prime Minister, Nick Clegg, has launched spending plans concerning almost £1 billion of Government funding that are expected to create 37,000 new direct jobs and many more within supply chains.
More than 100 schemes will receive a share of the money, including two power station projects and Mr Clegg explained during a visit to Rotherham in South Yorkshire that the second tranche of support from the Regional Growth Fund is intended to ensure that companies across the country can "expand and create jobs".
"It unlocks private sector investment - with at least £5 put in for every £1 of public money," he added, pointing out that the scheme is intended to reduce reliance on the City of London to fuel the economy.
The £950 million being provided across England through the £1.4 billion Regional Growth Fund will back 119 bids for the scheme and safeguard or generate over 200,000 new paid positions, according to the Deputy Prime Minister.
Successful bids include an engineering research and development initiative from Bentley to develop a new engine for the Chinese market and a public investment scheme for Bradford city centre.