The plans are backed by at least £725bn of government funding over the next 10 years, with £9bn being allocated in 2025-26 to “address the critical maintenance needs of health, education and justice estates”.
This will go up to £10bn per year by 2034-35.
Around £6bn per year will go towards creating safer hospitals, while investment in school and college maintenance will rise to £3bn per year and at least £600m of investment will go towards improving safety and security in prisons.
Other investments include £1bn to carry out maintenance on key transport infrastructure projects and £590m to start on the Lower Thames Crossing, as well as £16bn in new public investment to help build over 500,000 new homes.
The latter will unlock around £53bn of private investment.
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Rachel Reeves, Chancellor of the Exchequer, said: “Infrastructure is crucial to unlocking growth across the country, but for too long, investment has been squeezed. Crumbling public buildings are a sign of the decay that has seeped into our everyday lives because of a total failure to plan and invest.
“We’re not just fixing buildings – we’re enhancing public services, improving lives and creating the conditions for sustainable economic growth in communities throughout the UK.
“This will deliver the decade of national renewal we promised Britain, and fulfil our Plan for Change goals to kick-start economic growth, and build an NHS fit for the future.”
