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

Date:

Share:


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.”



Source link

━ more like this

New York lawmakers introduce bill that aims to halt data center development for three years

On Friday, New York State Senators Liz Krueger and Kristen Gonzales introduced a bill that would stop the issuance of permits for new...

Meta thinks you’ll want a whole app just for AI videos

Meta is taking a surprising turn in the world of social apps: it’s testing a standalone version of Vibes, a feature that lets...

DOJ is investigating if Netflix used anticompetitive tactics as part of its merger probe

Netflix's acquisition of Warner Bros. Discovery isn't quite a done deal yet. As first reported by The Wall Street Journal, the US Department...

The State Department is scrubbing its X accounts of all posts from before Trump’s second term

The State Department is wiping the post history of its X accounts and making it so you'll have to file a Freedom of...

Trump Mobile’s T1 Phone is apparently still coming, but it’ll be uglier and more expensive

Trump Mobile is already failing to deliver on some early promises, according to the latest report from The Verge. The report revealed the...
spot_img