£12 billion ‘Growth Deals’ to fire up local economies

Manchester Metrolink. Photo: James Layhe
Manchester Metrolink. Photo: James Layhe

The Government has agreed a series of ‘Growth Deals’ with businesses and local authorities to improve infrastructure and boost the economy.

 

The £12 billion plan, announced by the Prime Minister and Deputy Prime Minister, will provide training for young people, create thousands of engineering jobs, build thousands of new homes and kick start infrastructure projects; including transport improvements and superfast broadband networks.

 

A £6 billion first tranche of Growth Deals has been agreed today. The projects beginning in 2015 to 2016 are expected to be matched by local investments worth around twice the contribution from central government.

 

Some of the major projects that will be built include: £18M revamp of Manchester’s Metrolink; £23M new road tunnel linking Swindon to Wichelstowe; the creation of a new National Agri-Food Campus in York; funding for Birmingham to help the city make the most of HS2, and funding for broadband networks in areas where provision is not currently available.

 

Prime Minister David Cameron said: “Growth Deals are a crucial part of our long-term plan to secure Britain’s future. For too long our economy has been too London-focused and too centralised. Growth Deals will help change all that. They are about firing up our great cities, towns and counties so they can become powerhouses.

 

“By trusting local people, backing business and investing in infrastructure, skills and housing, we can create thousands of new job opportunities. And that means more economic security, peace of mind and a brighter future for hardworking people across the country.”

 

Greg Clark, Minister for Cities, said: “This is a landmark day for Britain’s local economies. National growth is the sum of local growth. For Britain to prosper every part of the country needs to fulfill its potential. No two places are the same and the people who live, work and do business in each place know best what their area needs to do well. Today is the day when we back local leaders to create construction jobs and prosperity in their area.

Please rate

Comments 

Name
Email
  Ctrl + Enter

Most Read

UK employers struggle with worst labour shortage since 1997

UK employers struggle with worst labour shortage since 1997

  Britain’s employers are struggling with the worst staff shortages since the late 1990s, amid the rush to reopen from lockdown and a sharp drop in overseas workers due to Covid and Brexit.   Sounding the alarm over the risks to economic recovery from acute labour shortages,

7 companies appointed to Scottish Water’s wastewater portfolio

7 companies appointed to Scottish Water’s wastewater portfolio

Scottish Water forecasts to spend £1bn a year on thousands of miles of water pipes, sewer networks, treatment works and other assets to ensure they continue to play a vital role in the daily lives of five million people.   The programme of work will help to deliver net zero

Defra publishes Government's Strategic Policy Statement for Ofwat

Defra publishes Government's Strategic Policy Statement for Ofwat

Defra has also launched a new consultation seeking views on the new statement - as the independent economic regulator for the water industry, the decisions taken by Ofwat can have significant impacts on customers, the environment and wider society. The 23 page draft statement says that in line with

This website uses cookies to enhance your user experience. By continuing to use this site, you consent to our use of these cookies. See our Cookie Policy.