Government Announces More Funding for Northern Powerhouse Projects

The government has announced that funding has been set aside for several more Northern Powerhouse projects.

Chancellor Philip Hammond confirmed that the government is to provide £556 million to Local Enterprise Partnerships throughout the north through a third round of Growth Deals.

The government has also backed four more major schemes through its Local Majors Fund: the Warrington Waterfront Western Link, the Sheffield Supertram renewal, the Tees Valley east-west connection project and the A1079/A164 Jocks Lodge Junction in East Riding.

All four of these projects have successfully bid for business case development funding.

Along with these, the M6 North West quadrant of Manchester and the Pennines A66 improvement works will also be included as part of the government’s latest Roads Investment Strategy, while two junctions of the A69 will be improved using pinch-point funding.

The government is also set to carry on developing options for Northern Powerhouse Rail along with Transport for the North, with the next steps for the scheme set to be revealed in 2017.

Plans were also confirmed for the £400 million Northern Powerhouse Investment Fund, which will invest in SMEs throughout the north and will make its first investments at the beginning of next year.

Away from the transport sector, the chancellor backed the restoration of the Grade I listed Wentworth Woodhouse country house near Rotherham with £7.6 million of funding, subject to business case approval.

Yorkshire and the North East are being “left behind” their Northern Powerhouse neighbours in the race to fund major projects, council leaders have warned.

More than £41bn of infrastructure spending is planned in the North West over the next five years, compared to £15bn in Yorkshire and the North East.

Council leaders want the Autumn Statement to tackle the imbalance.

The Treasury said the figures are “not a fair reflection of the investment”.

A spokesman said 550 infrastructure projects have been created in the North since 2010.

Government Announces More Funding for Northern Powerhouse Projects
Facebook
Twitter
LinkedIn
Pinterest

Latest Issue

Government Announces More Funding for Northern Powerhouse Projects
BDC July 2022 issue - 294

Related Articles