And the Chairman of the Council's Finance and Property Committee, Councillor Reg Adair has vowed that Nottinghamshire "will be at the front of the queue" when details for how to bid for the additional £10bn in roads, schools, housing and flood defences are revealed.
The additional money brings the total available nationally to £33bn a year. It is likely that local authorities, local enterprise partnerships and other regional organisations will be invited to bid for the funding for schemes in their area.
-- Advertisement --
The policy of increased investment in infrastructure projects mirrored the approach of the County Council, says Councillor Adair.
He said: "Just like the County Council, the Government has recognised that putting money into infrastructure projects is a wise investment and is something we wholeheartedly support. Not only does it create construction jobs and supports local companies, it improves services for the public and creates new opportunities for businesses to further boost the local economy.
"The A453 is a great example. It's a £140m scheme in total, with the £20m pledge from the County Council convincing the Government to give it the go ahead. As well as reducing congestion and improving a major link to the M1, it's estimated that the county's economy will benefit by £540m - 27 times more than the Council has put in.
"We already have an ambitious capital programme and series of measures in the first Nottinghamshire Growth Plan, which is helping to stimulate the Nottinghamshire economy. When full details are announced, our county will be at the front of the queue in bidding for funding to support our growth plans going forward."
(CD/GK)
