Autumn Statement 2016: Road projects to boost productivity

Budget 2011 coverage

Traffic pinch points targeted by new chancellor Philip Hammond in 2016 Autumn Statement, the first since Brexit

2016-11-23 13:15

More than £200 million will be invested into eliminating traffic pinch points on motorways and A-roads as the Government seeks to boost the UK's productivity by backing infrastructure projects across the nation.

New Chancellor Philip Hammond announced £220 million would be invested in traffic solving measures on the strategic road network alongside further money set aside to support regional cities and local road schemes like the Oxford to Cambridge Expressway.

Hammond said: "Investing today for the economy of the future. Families rely on roads, rail and telecomms. There is additional funding to help keep Britain moving."

The investment is part of the new National Productivity Fund worth £23 billion over the next five years that also includes huge financial support for 5G trials - technology that is key for the development of autonomous vehicles - and 100 per cent backing for the installation cost of home electric car chargers.

Hammond added: "My ambition is for the UK to be a world leader in 5G. That means a full-fibre network; a step-change in speed, security and reliability."

Hammond targeted these key areas as he bids to close the productivity gap with the UK currently lagging behind Germany by 30 per cent and France by more than 20 per cent.

He added: "In the real world, it takes a German worker 4 days to produce what we make in 5; which means, in turn, that too many British workers work longer hours for lower pay than their counterparts."

What do you think of the first Autumn Statement since Brexit? Let us know below...

Joe Finnerty
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