In a speech to the House of Commons, Chief Secretary to the Treasury Danny Alexander outlined a pipeline of over £100 billion worth of public investment in infrastructure projects, to 2020.
The government has announced an increase in capital spending plans by £3 billion a year, from 2015, which means an additional £18 billion of investment over the next parliament.
The Chief Secretary maintained the need for a long-term infrastructure investment plan, to ensure that Britain can compete in the global race.
View the HM Treasury map setting out infrastructure investment in your area.
Government is taking a long-term approach to infrastructure, to overcome decades of short-term decision making and uncertainty in funding, financing and failures in delivery.
Plans include over £70 billion of investment in transport, over £20 billion in schools and £10 billion in science, housing and flood defences.
View the HM Treasury infographic which sets out the key areas of government investment
Specific commitments include funding for HS2, a new nationwide rail network that will put two-thirds of northern England within 2 hours of London.
Government will commit to the biggest programme of investment in roads since the 1970s. By 2020 to 2021 the government plans to triple the money spent on roads compared to 2013. This includes £6 billion to help local authorities repair the local road network.
Superfast broadband provision will be expanded so 95 per cent of UK premises will have access to superfast broadband by 2017.
View the HM Treasury infographic which looks at key infrastructure projects and their benefits
Action is being taken to provide the support needed to enable up to £100 billion of private sector energy investment, including through the further roll-out and extension of the UK guarantees scheme.
The Chief Secretary also announced the government’s plans to strengthen infrastructure project delivery through learning from successful approaches taken in the Olympics and elsewhere.
A full update of the National Infrastructure Plan will be published at the time of the Autumn Statement 2013.
In an email to Liberal Democrat party members, Danny Alexander said:
"Yesterday, we set out a Spending Round that delivers Liberal Democrat priorities on investment and improving our public services while making responsible choices to deal with the financial problems Labour left us. It demonstrated that the Liberal Democrats will remain firm in our commitment to tackling the deficit, but fair in the way we go about it. Our number one priority in Government has been to fix the economic mess we inherited from Labour.
"Today I have set out how we will invest in our country’s economic future by creating balanced growth and delivering lasting prosperity. I have announced the most comprehensive, ambitious and long-lasting capital investment plans this country has ever known.
In doing so we are putting long term priorities before short term political pressures and we are ending the culture of short-termism that plagued so many of our predecessors.
"Today I set out our plans for over £100 billion of this for the infrastructure of our country.
"Let me be clear though, these are not easy choices. We have made some painful choices to get our country back on the right path because we understand that there is no easy way to create jobs and prosperity. As a result, we are making good progress, the deficit is down, and jobs are up. We’ve helped create more than a million jobs, now we want to help create a million more. This announcement means jobs building Britain for years to come.
- The biggest public housing programme for over twenty years – 165,000 affordable homes over 3 years, a higher number of houses than Labour ever managed in 13 years in power.
- The largest programme of rail investment since Victorian times, including committing funding to High Speed 2 that will bring two-thirds of people in northern England within 2 hours of the capital.
- The greatest investment in our roads since the 1970s, adding two lanes to the busiest motorways, resurfacing up to 3,700 lane miles of the national road network every year, providing nearly £6 billion over the next Parliament to Local Authorities to help them maintain the local road network.
- Unlocking massive investment in cleaner energy, to power our economy forwards by providing stability and certainty for investment in clean energy.
"As Liberal Democrats we understand that Britain needs an education system that stays ahead of our competitors’ but we also understand that what parents want is a good school, nearby, that their kids can get in to and that is in good shape. So today I have announced that we are re-building 261 of the worst schools, providing £10bn to clear the urgent backlog of schools in need of repair and investment, and investing to create a million new school places in a decade. A stronger economy in a fairer society enabling everyone to get on in life.
"Liberal Democrats also understand that we need to repair the decaying road network, the overcrowded railway system and to deal with an energy sector which is losing capacity quicker than it can adopt new technologies. And to tackle all of these long term challenges, today I have set out long-term investments that will help rebalance the economy, create jobs and support growth.
"Importantly all of this at a price we can afford to pay without adding a single pound to our borrowing forecast. Investing in stronger communities, investing in better infrastructure, investing in new sources of energy.
"This is an ambitious long-term plan to build an infrastructure of which Britain can be proud, and in doing so help to build a stronger economy in a fairer society, where everyone can get on in life."