Emergency Budget: Commitment to regional transport projects announced
Projects include upgrade of Tyne and Wear Metro and extension of the Manchester Metrolink.
Chancellor of the Exchequer George Osborne has announced commitment to regional transport projects in the emergency budget.
Projects committed to are the upgrade of the Tyne and Wear Metro, the extension of the Manchester Metrolink, the redevelopment of Birmingham New Street station and improvements to the rail lines to Sheffield and between Liverpool and Leeds.
Osborne also announced a large Regional Growth Fund to provide finance for regional capital projects over the next two years.
He stated that details would be announced shortly, but that priority will be given to projects that have the greatest impact on innovation and jobs.
Thirday, a new tax scheme will be shortly announced to help create new businesses in those regions where the private sector is not nearly strong enough.
Osborne said: "Even when money is so short, we will commit to these important regional transport projects."
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