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Autumn Statement: Osborne confirms big road, rail and London underground investment

by David Campbell on Dec 05, 2012 at 13:02

Autumn Statement: Osborne confirms big road, rail and London underground investment

The government has committed to a major programme of road refurbishment as well as a billion pound loan to extend the UK underground to the Olympic park and Battersea.

The Battersea extension to the Northern Line was previously expected to be contributed by the financial backers of the development programme taking place at Battersea Power Station.

An additional £1 billion will be pegged for roads, while plans to extend the HS2 high speed rail line to Yorkshire will be announced in detail next year, Osborne said.

An additional £600 million will be earmarked for ‘research infrastructure’ alongside £270 million for higher education – a very small fraction of annual university spending  - and £100 million for schools.

The Olympic park extension, which was referenced only briefly, was one of the few surprises half way through the budget.

The decision could open the government to charges of an excessive focus on the capital at the expense of the regions, however

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