Up to 2,000 jobs are set to be created thanks to a £120m capital investment for infrastructure projects across Wales during 2016-17, Welsh Labour’s Finance and Government Business Minister Jane Hutt has announced.
A range of projects in every part of Wales will benefit from the additional capital investment from the Welsh Labour Government’s Draft Budget in line with the priorities set out in the Wales Infrastructure Investment Plan. These include:
- £50m for priority transport projects.
- £10m for the 21st Century Schools and Education Programme to support projects that will enhance skills for post-16 students.
- £10m for Intermediate Care Fund, focusing on ‘step-down’ and re-ablement facilities for people with complex needs to support independent living and reduce demand on health services.
- £10m for the Wales Ambulance Service Trust for the replacement of vehicles.
- £5m for Green Growth Wales, providing repayable energy efficiency grants across health, local authorities and education.
- £3m for Warm Homes / Arbed, to tackle fuel poverty through green growth by investing in domestic energy efficiency measures.
A further £10m will be allocated towards neonatal investment in developments across West, South and North Wales. A total of £20m of financial transactions (repayable loans and equity investment) will support housing and regeneration projects across Wales, including:
- £10m Land for Housing – the scheme will provide recyclable loan funding to registered social landlords to purchase land to support housing supply.
- £10m Town Centre Loan Fund – expanding the current scheme to invest in empty and under-utilised buildings by at least 40 initiatives.
Today’s capital boost is in addition to the £43m for schools and social housing recently announced by the Finance Minister for 2015/16. Further details will be available soon.