Borrowing Initiative ‘Delivers Results’ In Wrexham

A scheme which provides £170m additional investment to local authorities across Wales has delivered results in Wrexham, Finance Minister Jane Hutt said yesterday.

The Local Government Borrowing Initiative (LGBI) was launched in 2012–13 to fund new and necessary investment in highways, which helps to improve the conditions of roads, reduce travel times and increase safety.

The initiative was used in Wrexham for the Croesnewydd Road Highway Improvement scheme to the west of the town centring around the Wrexham Technology Park, Wrexham Maelor Hospital, Glyndwr University and an area of new housing. The scheme is the first phase in the development of the Western Gateway project.

On a visit to the scheme the Finance Minister said:

“It is good to see the results of the Local Government Borrowing Initiative here in Wrexham today. The scheme not only improves the conditions of our highways, but it also supports local economies in all of our local authorities, by creating new job opportunities and apprenticeships for local people.

“Innovative investment like this is a key part of the Wales Infrastructure Investment Plan for Jobs and Growth which I published last year. As a result of the success of this scheme I have already announced that I will extending the initiative to the education sector, with the aim of accelerating delivery on the 21st century schools programme.”