£4.6 billion blackhole opens up in infrastructure funding for Hertfordshire
Growth in Hertfordshire over the next 15 years means a £6 billion infrastructure bill for the county - and a £4.6 billion funding gap..
The mammoth sum was calculated by the 11 district and borough councils - including East Herts - which are set to deliver around 100,000 new homes by 2031.
They commissioned a comprehensive study of the likely cost of the infrastructure that this development will need – such as transport, schools and healthcare facilities.
The key findings are:
- There will be around 100,000 new homes - an increase of more than 20% of the current total housing stock.
- There will be at least 107,000 more people living in Hertfordshire – and it is estimated this number could be closer to 175,000.
- There will be an extra 20% of traffic on all roads, and for example an additional 30% on the A414, without preventative measures. The county’s Local Transport Plan (LTP4) prioritises pedestrians, cyclists and public transport.
- Of the projected total infrastructure bill of nearly £6bn, only £1.4bn has already been identified or is being raised through funded schemes.
- At present, it is estimated that the contributions from developers and landowners will cover less than 20% of this £6bn bill.
The result is a growth board to support the delivery of sustainable growth in the county.
Councillor David Williams, Leader of Hertfordshire County Council and chairman of Hertfordshire Growth Board, said: “We’ll see significant growth in Hertfordshire over the next decade or so, and we want to help our communities flourish and fulfil their potential. We recognise the imperative to grow our economy and ensure that we have thriving, sustainable communities.
“Hertfordshire is a county of opportunity - an attractive place in which to live. We have some of the best schools in the country, have low crime levels and numerous major companies are based here. But we have to make sure future generations can afford to live and work in the county.
“Our vision is to focus on supporting the development of sustainable communities - where families can live, learn and work all in one place. Good growth means places that are well designed to help families stay healthy, safe and enjoy a good quality of life.
“The Growth Board will use this prospectus to prioritise infrastructure schemes, to secure support from central government and support a funding strategy.”
For more information see www.hertfordshire.gov.uk/hifp