Investments in transport networks include £40m for dualling of the A465 between Gilwern and Brynmawr, £40m for improvements to the M4 Brynglas Tunnels and £17m for improvements to the A55 in North Wales. There is also £62m for phase one of a new scheme to create a South East Wales metro system through better bus and rail links.
Housing will see £170m invested, including £140m between 2014/15 and 2015/16 for the Help to Buy scheme. This is in addition to the £34.5m which will be invested in the scheme during the current financial year.
Other investments include:
- £38m for improvements in health facilities across Wales - including the second and final phase of the Noah’s Ark Children’s Hospital for Wales
- £70m for ARBED ECO – the Welsh government’s scheme to improve the energy efficiency of Welsh homes focusing on those in fuel poverty
- £20m to support a programme of flood and coastal defence improvements.
In addition to this public spending, Velindre NHS Trust is also looking at the development of a new Cancer Centre, with an estimated cost of £200m. The Trust is working with its partners to identify private finance options.
Jane Hutt said: “Since 2010, the UK government has made significant cuts to our capital budget. By 2015-16 it will be 33% lower in real terms than in 2009-10.
“The tough economic conditions continue but I am determined to use every pound available to invest in infrastructure and boost economic growth in the long-term.”