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Answer
Written answer
answer has question
U5UYGE6a
answer has answering person
Elizabeth Mary Truss
answer text
<p>The Government established the National Productivity Investment Fund (NPIF) to increase capital spending for areas critical for improving productivity. The NPIF is now set to deliver £37bn of high-value investment to 2023/24 in economic infrastructure, R&amp;D, and housing.</p><p> </p><p>The Chancellor has set out how over £24bn of the NPIF will be allocated. This includes:</p><ul><li><p>£740m for digital infrastructure, to mobilise the market to develop full-fibre broadband networks and 5G capacity;</p></li><li><p>£7bn extra for R&amp;D by 2021-22 – the largest increase for 40 years – including £750m for skills and talent (PhDs and fellowships), demonstrating progress towards the government’s ambition of increasing the R&amp;D intensity of the economy to 2.4% of GDP by 2027;</p></li><li><p>£6.5bn for transport, including a £2.5bn Transforming Cities Fund, designed to drive productivity by improving intra-city transport and reducing congestion;</p></li><li><p>£13bn for housing, to build more homes in high demand locations so that people can live near the best job opportunities for them.</p></li></ul>
answer given date
answer has answering body
HM Treasury
written answer has answering body
HM Treasury
HM Treasury
answering body has written answer
ffNKHG7p
answering body has answer
ffNKHG7p
U5UYGE6a
question has answer
ffNKHG7p
Elizabeth Mary Truss
answering person has answer
ffNKHG7p