A long-term stable economy requires more than just discipline over spending. It requires us to invest in people, innovation and infrastructure in order to give our economy the opportunity to remain competitive for the future. The Conservatives have failed to take advantage of historically low interest rates to borrow for the investment that would create jobs now and prepare us and our economy for the future.
Liberal Democrats will therefore commit to a responsible and realistic £100 billion package of additional infrastructure investment. This will prioritise:
- New direct spending on house-building to help build 300,000 homes a year by 2022.
- A programme of installing hyper-fast, fibre optic broadband across the UK.
- Capital investment in schools and hospitals to support capacity increases and modernisation.
- Significant investment in road and rail infrastructure, including a continued commitment to HS2, Crossrail 2 and rail electrification.
- Additional funding to bring more private investment into renewable energy.
- £5 billion of initial capital for a new British Housing and Infrastructure -Development Bank, using public money to attract private investment for these priorities.
- We will ensure that the National Infrastructure Commission takes fully into account the environmental implications of all national infrastructure decisions.
- We will also devolve significant infrastructure spending to local areas.