Question to the HM Treasury:
What estimate he has made of the level of infrastructure investment required to support the potential contribution of the (a) North and (b) Midlands to post covid-19 economic recovery.
In November, the government published the first ever National Infrastructure Strategy, setting out our comprehensive plan to transform infrastructure across the UK. The NIS announced a number of measures which will support the North and Midlands in their economic recovery from COVID 19, including: a new £4bn Levelling Up Fund to invest in local infrastructure priorities; £5bn to support UK-wide gigabit broadband roll-out; and a share of £4.2bn for intra-city transport settlements.
The NIS also announced that the government will set up a new UK infrastructure bank, which will be headquartered in the North and will support the UK’s economic recovery from the COVID 19 pandemic.