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Chancellor Says No Cut To Capital Spending Commitments​

UK

Chancellor Jeremy Hunt on capital spending commitments: "...today I can announce that I am not cutting a penny from our capital budgets in the next two years and maintaining them at that level in cash terms for the following three years. This means that although we are not growing our capital budget as planned, it will still increase from £63bn four years ago to £114bn next year and £115bn the year after – and remain at that level"

  • "So today I confirm that because of this decision, alongside Sizewell C, we will deliver the core Northern Powerhouse Rail. HS2 to Manchester. East West Rail. The new hospitals programme. And gigabit broadband rollout. All these and more will be funded as promised, with over £600bn of investment over the next five years to connect our country and grow our economy."
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