Spending Review: Danny Alexander to unveil billions to be spent on road and rails schemes Just 2,000 homes had been built under the Government's New Buy guarantee scheme, of a hoped-for 100,000, leader Ed Miliband added. In his statement, the Chancellor re-stated the commitment made in the Budget in March to £300billion of capital spending by 2020, telling MPs £50billion of that would be spent in 2015/16, the year covered by the spending review. That was more on average as a proportion of national income over the decade than between 2000 and 2010, he said, as he sought to counter criticisms he has failed to do enough to spur growth. He said: "Successive governments of all colours have put short-term pressures over the long-term needs and refused to commit to capital spending plans that match the horizons of a modern economy. Today we change that: from roads to railways, bridges to broadband, science to schools. Boosting the Department for Transport capital budget to a guaranteed £9.5 billion a year for the rest of the decade would pay for the biggest investment in roads for 50 years and "the largest investment in our railways since the Victorian age." Mayor of London Boris Johnson welcomed a big boost - a grant of £925 million in 2015/16 rising to just over £1 billion by 2020/21 on top of enhanced borrowing powers to fund transport in the capital. Science - an area the Government has been accused of neglecting - will see its capital budget increase from £0.6 billion to £1.1 billion as part of a 9 per cent rise in capital investment at the Department of Business Innovation and Skills. Capital funding for education would be £4.6 billion in 2015/16 - part of a £21 billion package over the 2015/20 parliament - which would "tackle the backlog of maintenance in existing schools and invest in new school places," he indicated. There would also be £3 billion capital investment in affordable housing.