DCSIMG

Billions of pounds for Leeds growth

l

l

  • by James Reed
 

A deal that will see £1bn invested in Leeds and its neighbours to create thousands of jobs and grow the area’s economy was announced today.

The Government will hand the area £573m from a new fund designed to help towns and cities outside the South-East thrive.

And Ministers have offered a further £420m to help pay for a planned £1.6bn fund that will support transport improvements in West Yorkshire and York.

Business and council leaders in West Yorkshire and York say the promises from Government will help secure money from companies and other public 
sector bodies to take the total £1bn.

Improving skills, supporting businesses and kickstarting a number of major building projects are just some of the ways the money will be spent.

Prime Minister David Cameron said: “This historic deal means real change with exciting plans for Leeds and the region that include investment in rail and roads – reducing congestion, easing commutes and connecting businesses.

“This deal will also help boost skills in key sectors such as engineering and manufacturing and support growing business.”

The deal announced today is expected to help create 9,000 jobs and support the building of 1,000 homes across Leeds and its neighbours.

Leeds City Council leader Keith Wakefield said: “This historic deal means real change with exciting plans for Leeds and the region that include investment in rail and roads – reducing congestion, easing commutes and connecting businesses.

“This deal will also help boost skills in key sectors such as engineering and manufacturing and support growing business.”

Roger Marsh, chairman of the Leeds City Region Local Enterprise Partnership, the body which brings business and councils in the area together, said: “This is a game-changing moment for the Leeds City Region.

“We have worked tirelessly with businesses and partners on showcasing our region’s immense potential to play a leading role in rebalancing the UK economy.

“The scale of our settlement, combined with the additional freedoms and flexibilities we have secured through this historic deal, demonstrate the government’s faith in this powerhouse economy, as well as in the strength of our partnership, our governance arrangements and our readiness to deliver.”

Deputy Prime Minister Nick Clegg said: “We are ending a 
culture of Whitehall knows best. Decisions over spending on infrastructure, business support and housing are being made at 
a truly local level. It will help 
end our over-reliance on the banks and the City of London.”

 

Comments

 
 

Back to the top of the page