Facebook Twitter Pinterest Google+ Addthis

£392m Tower Hamlets capital investment approved

Tower Hamlets Council has announced an ambitious investment programme in infrastructure and local services including schools, homes and parks. 

John Biggs, Mayor of Tower Hamlets, said: “Tower Hamlets is a place where people want to live and work and to sustain this growth we need to invest in services for our community into the future. We’ll continue to make investment in these projects that will deliver growth and improve the lives of our residents as we recover from the pandemic.’’ 

Councils have a ‘capital budget’ for longer term investment in infrastructure projects and this differs from its day-to-day budget which is spent on running services.

Improved IT systems and new transport infrastructure are also earmarked as part of a £392 million general fund capital programme. 

Education on the Isle of Dogs is a big-ticket item with George Green’s School in Cubitt Town set to be rebuilt at a cost of more than £50million. 

Cllr Rachel Blake, Deputy Mayor and Cabinet Member for Adults, Health and Wellbeing, said: ‘‘This investment in our community will deliver new homes, new schools and cleaner air as well as linking up our community with new bridges across our docks and rivers. These ambitious plans are part of the Council’s commitment to support the community. This investment will help the Council to save and focus our resources on front line services for residents.’’

Sustainable travel will receive a boost with the second phase of Liveable Streets aimed at boosting walking and cycling in residential areas. 

The maintenance of Tower Hamlets highways is funded in addition to the installation of energy-efficient LED street lighting to reduce running costs and carbon emissions. 

Three bridges over the River Lea are in the pipeline to improve connectivity in the east of the borough as well as £6 million towards better bus facilities, cycle hire stands and DLR station improvements. 

The Council’s computing systems and software will be enhanced to deliver further efficiency savings as the authority aims to make the most of its budget. 

The Council’s Local Infrastructure Fund also invests funding received as a result of development in the borough into the community and this programme includes investment in parks and new cycle parking.

Significant new additions to the capital programme presented to Cabinet on Wednesday 27 January, 2021 included:

  • £51.4m for the rebuild of George Green School  
  • The next phase of the Liveable Streets Programme including Old Ford West, Shadwell, Whitechapel and Mile End West, worth £13.38m  
  • Essential ongoing maintenance of carriageways, footways and replacement street lighting (total of £16.2m over the next three years) 
  • £8.36m for three Lea Valley bridges  
  • £6m for TfL schemes, which will include the delivery of improvements to bus infrastructure, increased cycle hire docking stations and DLR works  
  • £1.87m for the first phase of the Whitechapel Road improvements in 2021/22 to be delivered in time for the completion of the new Town Hall  
  • IT improvements to support the delivery of efficiency savings and new service delivery models (£3.5m per year for 3 years) 

Ends  

For more information about this release contact the London Borough of Tower Hamlets communications team on 020 7364 4389 or email communications@towerhamlets.gov.uk  

 

Posted on Monday 22nd February 2021