Reeves announces £15.6 billion investment for transport infrastructure in the North – London Business News | Londonlovesbusiness.com

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The Chancellor has announced on Wednesday a £15.6 billion investment for trams, buses and trains in the North ahead of nest weeks’ spending review.

The Chancellor made the announcement in Manchester saying the government will fund bus, trains and trams in area including Tyne and Wear, West Midlands and West Yorkshire.

This includes a £2.4 billion to extend the Metro in the West Midlands, £2.5 billion for tram lines in Greater Manchester and £2.1 billion to start the transit system in West Yorkshire which had been delayed.

The Chancellor said the UK “cannot rely on a handful of places forging ahead of the rest of the UK,” as underinvestment is holding the country back.

She said whilst in Rochdale, “Connectivity is an absolutely critical factor in unlocking the potential of towns and cities outside of London.

one of the areas in which previous governments have promised most but delivered least, and that will now change.

Modern growth rests on dynamic, connected city regions, creating clusters of activity so that people can get around, communicate, share ideas, commute, find good work and earn wages that flow back into strong local economies.

The stronger transport links within cities and the towns around them create opportunity by connecting labour markets and making it easier for firms to buy and sell goods and services in different places to different people.

Greater Manchester Mayor Andy Burnham said this is the “best news of the day,” as the will now close the “north-south divide” for economic growth

He said, “good transport powers good growth.

He added, “The levelling up that was once promised is now happening here.”



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