Capital investment for growth and jobs will accelerate in Wales, says Jane Hutt

“We remain a Government committed to the provision of infrastructure and the creation of jobs”, Finance Minister Jane Hutt said ahead of the publication of the first Wales Infrastructure Investment Plan for Growth and Jobs.

The Wales Infrastructure Investment Plan for Growth and Jobs – a commitment in the Programme for Government – will outline how the Welsh Government will invest more than £3.5bn over this Spending Review period and around £15bn over the next decade in capital projects.

Following a visit to Cadwyn Housing Association’s new housing development in Cardiff the Minister said that the Plan would focus on nationally significant schemes such as investment in housing and would highlight new innovative financing solutions.

Jane Hut said:

“We remain a Government committed to the provision of infrastructure and the creation of jobs, and we want to take every cost-effective opportunity to increase capital investment, despite the severe cuts in our budget, right across Wales.

“The Plan will include a list of approved capital projects for the next three years and an indication of our capital priorities for the next ten years. This will be the first time that we have published such a clear outline of our strategic capital priorities.

“Housing is one of our key infrastructure priorities. That is why I will be announcing additional resources later today to expand our empty properties initiative; deliver a Welsh Housing Bond; extend the Welsh Housing Partnership; and develop a Welsh mortgage guarantee scheme.”

The publication of the Plan will enable the private sector to ensure they are well placed – adequately skilled and resourced – to support infrastructure delivery over the coming years.

Jane Hutt added:

“As we’ve developed the plan we have engaged widely with the business community, social partners and the public and third sectors and their feedback has helped to shape the document. I was also pleased that Gerry Holtham agreed to add his considerable skills as an adviser to the Plan.

“As recent data shows, the UK has now slipped back into recession. This makes it even more vital that public investment in capital and infrastructure here in Wales continues. Our Plan will provide a real, concrete demonstration of how the Welsh Government is helping the Welsh economy grow.”