A multi-billion pound investment programme aimed at getting Britain's economy moving is set to be announced.
Most of the money is expected to come from the big British pension funds, as well as Chinese investment.
However, £5bn will be paid for by further cuts in the present spending round.
Various road schemes around Britain and rail lines in Newcastle and between Manchester and Leeds are thought to be among 40 projects earmarked for help.
It comes ahead of Tuesday's Autumn Statement in which Chancellor George Osborne will outline spending plans.
The government says the initiative, called the National Infrastructure Plan, would see it and private investors support both social and economic schemes over the coming decade.
The Treasury hopes two-thirds of the £30bn earmarked for infrastructure schemes will come from the National Association of Pension Funds and the Pension Protection Fund.
Chief Secretary to the Treasury Danny Alexander said: "We're putting in place a new arrangement with private pension funds - which is the first time this has been done in this country - to try and unlock pension fund money to go into infrastructure."
He told BBC Breakfast he was surprised to recently discover that the Birmingham airport runway extension was paid for "by the pension fund of Canadian teachers and Australian miners"........
Multi-billion pound push on UK economy
Reply With Quote
Bookmarks