Cabinet backs £536.6m investment plan
14 January 2020
Plans for £536.6m of investment in physical and digital infrastructure, schools and services across Norfolk have been backed by the County Council’s Cabinet.
The Capital Strategy for 2020/21, funded by grants, land sales and prudent borrowing, sets out Norfolk County Council’s ambitions for capital investment.
Cllr Andrew Jamieson, Norfolk County Council’s Cabinet Member for Finance, said: “Despite the pressures on our day to day revenue spending, capital investment in our county is vital in creating an environment that enables Norfolk to thrive. The investments we’re proposing will see money spent over the next few years which will be delivering returns for our residents for decades to come.
“With over £39m of capital investment in adult social care, as well as funding for improved digital and physical infrastructure, ongoing capital maintenance and investment in social infrastructure, this strategy lays the groundwork for a stronger, healthier, greener Norfolk in the coming decade.”
Some of the top projects to benefit from this upcoming investment include:
- £96.3m between 2020 and 2023 towards the anticipated £120m cost of the Great Yarmouth Third River Crossing
- £95.6m over the next three years as part of the £120m being invested in special educational needs and disability transformation in schools
- £39.2m over three years for adult social care, including over £28m for the Living Well – Homes for Norfolk programme, meeting increasing demand for extra care housing
- A further £11.9m to be invested in the Better Broadband for Norfolk scheme, rolling out high-speed fibre optic networks across the county
The Capital Strategy for 2020/21 also includes a number of new schemes, receiving almost £40m of investment, including:
- £5m in match funding for the Department for Transport’s Transforming Cities and Future Mobility Fund, with the potential to unlock external funding that could total as much as £101m over the next three years for transforming public transport in the greater Norwich area, embracing new technology and changing behaviours to reduce carbon emissions, improve air quality and reduce congestion
- £7.7m for the Norfolk Local Full Fibre Network – bringing high speed broadband to schools, libraries and the council’s corporate estate
- £3m investment in a Social Infrastructure Fund, designed to support the development of infrastructure which benefits local groups and voluntary sector organisations
- £1m for environmental policy projects, including meeting the council’s target of planting one million new trees over the next five years, agreed at November’s Council meeting
The Council’s Cabinet meeting on Monday 13 January approved the proposals in the Capital Investment Strategy, which will now be put before Norfolk’s Full Council Meeting on 17 February alongside the Council’s 2020/21 budget.