Following the announcement, funding will be available for local authorities to bid for, allowing them to work on major maintenance projects, as well as on projects that will ease congestion on their busiest roads.
The first investment pot is called the Challenge Fund, which will be available for 2019 and 2020, with just under £200m on offer. Projects being considered include improvements to the quality of roads and other infrastructure, like bridges, as well as major pothole repairs.
The second set of funding is the Pinch Point Fund, which will be available in 2021/22 and 2022/23. A total of £150m will be on offer to go towards projects designed to help ease congestion on some of the busiest roads.
Coun Richard Davies, executive member for highways, said: “We’re pleased that the Government is recognising the financial challenges local authorities are facing and is making a substantial amount of funding available for road and infrastructure improvements.
“There are several pinchpoints, roads and structures across Lincolnshire that could benefit from this, and, over the next few months, we will give careful consideration to what we might want to bid for.
“Things are obviously still in the early stages and some details are not yet clear, but we will be doing everything we can to win our fair share for Lincolnshire.”
Transport Secretary Chris Grayling said: “Local roads are the backbone of the transport network for drivers up and down the country, but we know that some aren’t up to the standard they need to be. Whether it’s congestion or quality, we need to empower local authorities to invest in these roads and make journeys safer and stress-free.
“That’s exactly what this funding will do – over four years we’re providing more than a third of a billion pounds to make sure local authorities have the cash they need to make this a reality.”