Philip Hammond is planning to invest up to £15bn into Britain’s creaking transport network and hi-tech industries in an attempt to “future-proof” the economy from the turbulence of Brexit. The Chancellor will back dozens of small-scale infrastructure projects across the UK to get shovel-ready road and rail links off the ground. Sky News understands Mr Hammond has earmarked several billion for various schemes – and could spend up to £15bn on infrastructure overall – as he looks for boosts to economic growth. Please use Chrome browser for a more accessible video player Transport Secretary defends HS2 project While Mr Hammond is still supportive of his predecessor’s big ticket projects, such as HS2 and the Hinkley Point power station, the focus in his Autumn Statement will be on projects that are ready to go and can stimulate local areas in the next couple of years as Britain prepares for Brexit. “Forget about the political ambition of George Osborne, (Hammond) is about practical ambition – trying to future proof the economy,” said one figure familiar with his plans. Advertisement Mr Hammond also wants his infrastructure package to boost British productivity: better road and rail links should help to get people to work more… Read full this story
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