City regions across England are being invited to bid for funding
from the £1.7 billion Transforming Cities Fund to help boost
local economies.
The money is a key part of delivering the
government’s Industrial
Strategy by supporting ambitious and innovative
transport projects that will increase productivity and crack down
on congestion.
Transport Secretary has welcomed the
announcement by the Chancellor of the Exchequer, , today (13 March 2018) who
said city regions will be able to submit a proposal to
government, helping identify those with the strongest case for
investment.
Up to 10 English city regions will then be selected to work with
the Department for Transport to co-develop a strong package of
proposals. These will focus on improving public and sustainable
transport links to centres of employment and driving up
productivity.
Today’s announcement is the next step in the £1.7 billion
Transforming Cities Fund, launched as part of the
Industrial Strategy at the Autumn Budget 2017to address
weaknesses in city transport systems in order to increase access
to jobs and prosperity. This investment is part of the
government’s £31 billion National Productivity
Investment Fund aimed at improving productivity, which
is key to raising living standards.
The fund will support new local transport links, particularly for
those struggling to travel between city centres and suburban
areas. Proposals will be accepted from local transport
authorities outside London who represent a city region with a
workday population of around 200,000 or more people.
The first £840 million of the fund has already begun to be
allocated, with 6 Mayoral Combined Authorities empowered to
deliver schemes that will make commuter journeys faster, better
and safer.
The 6 Mayoral Combined Authorities are:
- West Midlands - £250 million
- Greater Manchester - £243 million
- Liverpool - £134 million
- West of England - £80 million
- Cambridge and Peterborough - £74 million
- Tees Valley - £59 million
Today’s announcement forms part of the Industrial Strategy which
sets out a long term plan to build a Britain fit for the future
through a stronger, fairer economy. Through the strategy, the
government is helping businesses to create better, higher-paying
jobs - setting a path for Britain to lead in the high-tech,
highly-skilled industries of the future.
To ensure taxpayer money is being invested in the right areas,
the government set out 4 grand challenges in its Industrial
Strategy – priority areas and industries the UK is determined to
be at the forefront of in the future. Through the future of mobility grand
challenge the government is committed to radically
improving the way in which people, goods and services are able to
move around the country.
Further details
Today the government is opening a call for proposals for
non-mayoral city regions to access the £1.7 billion Transforming
Cities Funds with a deadline of no later than the 8 June 2018.
