Capital spend is silver lining


first_img Show Comments ▼ whatsapp whatsapp Capital spend is silver lining by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Share AN unexpected perk of the Comprehensive Spending Review was an increase of £2m in capital expenditure on the figure announced in the June budget.Osborne says capital spending will be £59.5bn this year, falling to £50.7bn in 2011-12, £48.5bn in 2012-13, £45.6bn in 2013-14 and rising again to £47.2bn in 2014-15.This is a full £2bn higher than Osborne set out in June, in which the chancellor axed £11bn worth of capital projects, and has been described as a silver lining to the deep cuts.The money will safeguard a host of infrastructure projects including a new bridge over the Mersey at Runcorn and funding for new hospitals including the St Helier, Royal Oldham and West Cumberland projects.Osborne said it was necessary to “ruthlessly prioritise” capital spending on areas of the economy that will promote growth. High on his list was investment in green infrastructure, including ear-marking £1bn for a “green investment bank”.He also set aside £1bn for a carbon capture project and £200m for offshore wind technology.Osborne said: “When money is short we should ruthlessly prioritise those areas of public spending which are most likely to support economic growth, including investments in our transport and green energy infrastructure, our science base and the skills and education of citizens.”Richard Lambert, director-general of the CBI, said maintaining capital expenditure will help to promote economic growth. Cultural developments will benefit, with extensions to both the Tate Gallery and British Museum saved by the additional funds. center_img KCS-content More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Wednesday 20 October 2010 8:24 pm Tags: NULLlast_img