皇冠体育app

皇冠体育app Chancellor today announced major new investments in transport and science in the North West, and provisional agreement to allow Greater Manchester and Cheshire East to keep 100% of additional growth in local business rates, as part of a Budget 2015 designed to ensure a truly national recovery.

Budget 2015 builds on previous steps to create a Northern Powerhouse by joining up the north so that it can pool its strengths, and helping areas attract new private sector investment by backing innovation, investing in the quality of life, and devolving power. Budget 2015 announces:

Further new transport investment

Transport for the North will shortly publish an interim report, committing to build on the concept of HS3 to develop a network of high quality rail connections across the north, bring the benefits of HS2 to the north sooner than planned, and work towards a single smart and integrated ticketing system across the north.

Further investments in science and innovation

• investing 拢20m in Health North, with centres in the North West, to enable better care for patients and promote innovation through the analysis of data on the effectiveness of different drugs, treatments and health pathways

• investing 拢11m to accelerate and support the development of high tech business in the north. Entrepreneurial hubs will create thriving local ecosystems by nurturing start-ups, fostering collaboration and providing mentorship, learning and business support. In Manchester, the Forward Plan will see 拢4m Government Investment towards an 8 floor hub in Federation House, located in Manchester鈥檚 Northern Quarter

• extending the successful Enterprise Zones at Manchester and Mersey Waters and creating a new Enterprise Zone at Blackpool Airport which will redevelop 175,000 sqm of industrial floor-space and leverage 拢300m in private sector investment and potentially 2,000 jobs by 2020-21

• after business case completion, the government will also create a new Enterprise Zone at Blackpool.

Investments in the quality of life

• government has designated a new Housing Zone in Preston, and will continue to work to support develop zones in Wirral Waters and Lancashire. In total these have the potential to deliver over 5,500 homes by regenerating brownfield sites

• the Muni theatre in Pendle will get a 拢56,000 refurbishment as part of the commitment to culture in the region

Further devolution of power

Devolving further power to the North West, by announcing a pilot scheme in Greater Manchester and Cheshire East, to enable those areas to retain 100% of any additional business rate growth above expected forecasts, beginning in April, subject to formal approval from the Greater Manchester Combined Authority. 皇冠体育app new measures will help build on the Long Term Economic Plan for the North West announced by the Prime Minister and Chancellor in January. 皇冠体育app plan sets a goal to increase the size of the North West economy by an extra 拢18 billion in real terms by 2030, equivalent to over 拢2,000 per person, and to raise the employment rate so that there are over 100,000 more people in employment in the region during the next Parliament.

Chancellor of the Exchequer, George Osborne said:

皇冠体育app North West has the fastest employment growth in the country, and has created 117,000 jobs over the last year alone. This Budget builds on the long term economic plan for the North West that I set out in January, which aims to add an extra 拢18 billion to the local economy, create another 100,000 extra jobs and invest 拢4.5 billion in better transport.

This is a Budget for a truly national recovery. We are investing in better transport for the North West to join up the north, supporting the North West鈥檚 strengths in health science and tech, backing innovative businesses by extending enterprise zones at Manchester and Mersey Waters, and creating a new Enterprise Zone for Blackpool.

Following the ground-breaking devolution deal for Greater Manchester, we have reached provisional agreement to allow Greater Manchester and Cheshire East to keep 100% of the additional growth in local business rates as we build up the Northern Powerhouse. For where cities grow their economies through local initiatives 鈥� let me be clear 鈥� we will support and reward them.

This Budget marks another milestone in our plan to build a Northern Powerhouse, and our plan is working for people in the North West. We mustn鈥檛 turn back now.