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FX.co ★ Britain to spend $634 billion on infrastructure projects

Britain to spend $634 billion on infrastructure projects

Britain to spend $634 billion on infrastructure projects

According to Britain’s investment plan, the British government will allocate 500 million GBP or $634 billion for infrastructure in the coming years.

The UK Treasury will create the National Productivity Investment Fund worth 23 billion GBP, Bloomberg reported. The fund will finance such projects as the Thames Tideway Tunnel, installation of smart meters and repair of highway A14 in eastern England.

Finance Minister Philip Hammond said that private funding will amount to more than half of infrastructure investments for 2020-2021 years, including development of transport and communication facilities.

According to Hammond, he seeks to prepare the UK economy for any potential disruption of the country's exit from the European Union. That is particularly why improved performance of the British economy through targeted investment is the government’s key objective.

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