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£30bn investment plan for transport and schools

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A £30bn plan has been announced to build and improve roads, railways, power stations and schools to build the economy.

The chancellor has given details of how and where the money will go; he also showed how the plan would generate work for small businesses and create thousands of jobs.

In the Autumn Statement it revealed a third of the infrastructure investment will come from the government the rest will be provided by institutions such as pension funds.

The areas which will benefit from the money being invested will be the North West, Midlands, Wales, Southwest, North east, Yorkshire, East of England and London.

The plan is aimed to reduce employment and boost growth through public funding which will see family tax credit being reduced.

It will boost projects like the railway between Leeds and Manchester with a new road which will limit traffic to Manchester airport.

Chancellor George Osborne spoke of the new plans: “For the first time we are identifying over 500 infrastructure projects we want to see built over the next decade and beyond.

“Roads, railways, airport capacity and power stations, we are mobilising the finance needed to do this.”

The projects that have been included in the investment is London underground Northern Line extension to Battersea, enlargement of the M3 and M6, Manchester cross city bus and improvements to the M1/M6 intersection.

Transport proposals have been put forward to try and limit journey times for people and help with congestion around major parts of the UK.

The investment will see £5bn being put in by the Government between now and 2015 then another £5bn over the following years.

For the transport side of the plan the Thames Estuary proposal could become a reality with the government exploring all options.             

With Britain falling behind on transport links compared to the rest of the world it will be a positive step towards providing better transport for the public.             

It’s not just the transport industry that will see a difference, Schools will also benefit from the plan with around £600 million providing 40,000 new primary school places and the building of new classrooms.                                                                                                                                                                                                

12 specialist institutions for 16-18 year olds will also be open to pupils to give them expert tuition under the guidance of mathematics department.

Only time will tell if the plans will help the economy that seems to be in a difficult position at this moment in time.

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By Amanda Bainbridge