Capital funding in Wales was given a boost in early May when Finance Minister, Jane Hutt announced a £76.5M investment package from the Welsh Government for housing, schools, flood protection and transport promising to safeguard about 1,400 jobs.

The £76.5M package unveiled by the Finance Minister includes £30m more to increase housing supply, £25m investment in school buildings, £11.5m for a railway and station in Ebbw Vale and £10m more to protect homes, businesses and communities from the risk of flooding. The Welsh Government had published an Infrastructure Investment Plan for Growth and Jobs in May 2012, which delivered additional investment of around £1.1bn in infrastructure projects across Wales.

Ms Hutt said that the additional £75m supported the priorities set out in the plan for growth and jobs and ensured ‘every Welsh pound is used to boost jobs and growth’.

“The main benefits of investment are gained over the long term. But in present circumstances, the jobs created in constructing new infrastructure are vitally important, and this latest package is expected to support around 1,400 jobs during the construction phase,” she said. “This significant package of investment clearly demonstrates our commitment to stimulating economic growth, creating jobs, mitigating the impact of the UK Government’s Welfare Reforms and reducing poverty in Wales.” To find out more visit the Welsh Government News website.

The news comes at a critical time for Welsh construction whose morale was hit hard this month with the news of that the £68m-turnover steel specialist Rowecord Engineering has been put into administration. The Newport firm had previously delivered landmark projects at the London Olympics and worked with Tata Steel.

Look out for our story on the Major Project Delivery Task Group to see what CEW is aiming to achieve with Government to ensure a vision and growth for Wales.