Government Investing £1.3billion In Construction

Government Investing £1.3billion In Construction

The government has announced a huge £1.3billion investment into construction through its Getting Building Fund, which has been designed to deliver jobs, skills and infrastructure across the country and support a green economic recovery as we move through the coronavirus pandemic.

Over 300 successful projects are expected to:

Deliver up to 85,000 jobs

• Deliver over 1,500,000 sqm of commercial floor space
• Unlock 45,000 homes
• Create or improve almost 100,000,000 sqm of public realm or green space
• Assist over 50,000 new learners
• Save 65 million kgs of CO2 emissions

All projects have been selected by Local Enterprise Partnerships and Mayoral Combined Authorities in each area and endorsed by the Housing Secretary.

Housing Secretary Rt Hon Robert Jenrick MP said: “We are laying the foundations for a green economic recovery by investing in vital infrastructure for local communities, creating jobs and building environmentally-friendly homes with a huge £1.3 billion investment.”

He went on to say the government is determined to level up all parts of the country and “this funding will not only give a much needed boost to our economic recovery, it will help build the good quality, affordable homes the country needs.”

The Green Homes Grant Scheme

As part of this investment into builds across Britain, the government is funding up to two-thirds of the cost of over 600,000 home improvements to make housing more green.

Tradespeople must register for a new scheme called TrustMark, which will fund a range of green home improvements, from the insulation of walls, floors and roofs to the installation of low-carbon heating like pumps or solar panelling. These eco-friendly adaptations could save households up to £600 on their energy bills.

Getting Building Fund’s Distribution

The government has confirmed a list of over 300 successful projects that will each receive a share of the Getting Building Fund, and it’s much more than making improvements to residential properties. The projects funded include:

• Regeneration of town and city centres
• Green infrastructure and clean energy
• Transport and digital connectivity improvements
• Unlocking of housing and business sites
• Support for SMEs and learner

Successful Projects to Unfold Across the UK

Amongst the many successfully funded projects, some of the biggest will bring big changes to cities across the UK and help kick-start the economy with the jobs created as a result. Some of the funding will go to the following:

• £23million will be used for phase 1 of the development of commercial space at Mayfield Park in Greater Manchester. This is expected to deliver around 3,200 jobs for individuals and attract over 1million visitors a year to this new green space.

• £14.88 million will be used to accelerate the National Brownfield Land Institute, a project aiming to create a leader in sustainable construction.

• £12 million will go to support a new high-speed railway station in Thanet in Kent, which will not only improve transport in the region but will also create around 800 new jobs.

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