Extra £5.5bn to be invested in infrastructure, govt says

The government will be investing an extra £5.5 billion in infrastructure to support small businesses and other firms, it has been announced.

Chancellor of the Exchequer George Osborne revealed that money will be made available to support road improvements and the introduction of superfast broadband in the countryside.

Furthermore, a £1 billion loan will be made to help support expansion of the Northern Line in London to reach Battersea, a development Mr Osborne says is "on a similar scale to the Olympic Park".

"It is exactly what a government equipping Britain to compete in the modern global economy should be doing," he told the House of Commons this afternoon (December 5th).

"We're committing an extra billion pounds to roads, including four major new scheme."

Small businesses reliant on transport will also benefit from the announcement that the planned January Fuel Duty rise of 3p has been scrapped, another of the government's key Autumn Statement changes.

Posted by Emily Smith

Date published 5 Dec 2012 | Last updated 5 Dec 2012