Welsh infrastructure investment promises jobs boost

Article date: 27/01/2014

Welsh infrastructure investment promises jobs boost


   
There will soon be more construction jobs in Wales, as the Welsh government has pledged an extra £617.5 million towards infrastructure improvements. A range of projects are to benefit from the extra funding, which will see jobs and training opportunities created over the next three years.

Extra funding has been pledged in an attempt to improve services, support businesses and give a boost to the Welsh economy. Some 11,000 jobs will be created or upheld over the next three years as construction works are undergone and businesses are helped to expand.

As well as jobs, the infrastructure funding also aims to create a large number of apprenticeship positions within the construction industry. The support will help more young people receive training in key areas throughout the industry, helping to avoid a skills gap in later years and to improve educational options throughout the country.

A total of £2 billion extra in investment has been ploughed into infrastructure works since the Wales Infrastructure Investment Plan was published in 2012. It is hoped that the added investment will help to provide a huge boost to the countries economy.

The latest investment will see major improvements undertaken to a number of transport networks across Wales. A total of £123 million is to be provided for key improvements, including £62 million for the initial phase of the new South East Wales metro system. This new scheme will provide improved rail and bus links. A series of road and tunnel repairs will also be completed.

Another key investment area is to be housing, which will see the launch of the Help to Buy Cymru scheme. As with the Help to Buy scheme in England, this will provide help for those wishing to purchase their own home. In order to ensure that an adequate amount of new housing is available for this scheme to be successful, around 5,000 homes are to be constructed.

Finance minister, Jane Hutt, said: "The new £617.5m Capital investment package I am announcing today (October 9th 2013) will deliver real benefits across Wales, creating or supporting more than 11,000 jobs over the next three years, providing longer term growth benefits and better infrastructure for key public services."