Posts tagged the Local Government Borrowing Initiative
An extra £1.3 billion has been spent on building affordable homes, new health facilities and schools in the past year, the Welsh government has said.
Jane Hutt said that despite cuts to the capital Budgets, the Welsh Government has focused on important priorities of creating new jobs and boosting economic growth.
Ms Hutt said: “The additional investment we have made from capital reserves, totalling almost £462m, in the short term has the potential to create around 8,000 jobs during construction phases. In the longer term, this will boost growth and support the delivery of more efficient public services.
“In addition we have continued to work across the Welsh Government to maximise our opportunities. For example, we have worked to develop an Infrastructure Priority in the 2014 – 2020 European Structural Fund Programmes.
“A potential £1.8bn source of investment which could make a significant contribution to the delivery of our key priorities.”
The additional infrastructure investment in Wales will see a number of construction schemes underway including the Local Government Borrowing Initiative to the 21st Century Schools programme and completion of the A465 through a non-dividend investment vehicle
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