Infrastructure cash ‘to quicken’

13 September 2011 Last updated at 19:01 ET

Nick Clegg will say that the government is doing much more than just cutting overall spending

Investment in 40 major infrastructure projects, such as Crossrail and new broadband networks, is to be speeded up by the government, Nick Clegg is expected to announce later.

The deputy prime minister is set to say that the government will “unblock the system and get the money out the door”.

He will add that the faster pace of infrastructure work will help boost economic growth.

Labour has accused the government of only focusing on spending cuts.

‘Doing more’

In a speech at the London School of Economics, Mr Clegg will warn that the worsening global economy means the UK faces a “stark” reality.

He will add that his fellow ministers have been warned against “stockpiling capital that can be put to good use today”.

Other infrastructure projects that the government would like to see get both public and private money faster include improvements to motorways and the national grid.

Mr Clegg will say: “Our critics say that all this government is capable of is cuts.

“That, beyond lowering a few business taxes, reducing a bit of red tape, there is little we are willing or able to do. That is absolutely wrong.

“We can do more, we are doing more, we will do more.”

He will add that faster investment in infrastructure improvements will lay “the foundations for long-term growth”, but that the government had to be “ruthless” in what projects it identified.

Mr Clegg will add: “Roads and rail so manufacturers can transfer goods, better broadband so small, high-tech companies can flourish, renewable energy so low-carbon industry can too.

“If modernise this kind of infrastructure stimulate economic activity in the shorter term. But also build the systems that high growth industries can use for years to come.”

The most recent official figures showed that UK economic growth slowed to 0.2% in April to July, down from 0.5% in the first three months of the year.

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