Chancellor today confirmed a major
boost to the Northern Powerhouse - investing in new rail and road
schemes to support business growth and investment across the
region.
He confirmed £300 million to create connections between the HS2
rail route and cities not directly on the route. This is the
first step towards Northern Powerhouse Rail and faster services
across the Midlands.
It would speed up journey times between cities like Liverpool,
Manchester, Sheffield, Leeds and York. Cities in the East
Midlands, like Leicester, would also benefit from the investment.
The Chancellor and Transport Secretary also confirmed a £100
million investment package for 33 major new road schemes - ten in
the North East, 13 in the North West and ten in Yorkshire and
Humber.
The projects will cut traffic congestion and journey times and
improve connections - unlocking sites for new job creating
businesses and potential new housing developments.
It brings the total investment in transport in the North to a
record £13 billion by 2020.
Chancellor said taking a balanced
approach to the economy was critical to ensure investment in all
parts of the country - bringing new jobs, businesses and homes.
Chancellor of the Exchequer said:
"Poor infrastructure can be a barrier to progress. That's why, as
the party of progress, we are investing record amounts to
strengthen transport links.
"Today I am announcing a further £300 million to future-proof the
railway network in the North. This investment will go towards
ensuring HS2 infrastructure can link up with future Northern
Powerhouse and Midlands rail projects - helping the towns and
cities of the North reach their full potential."
On Monday, the Chancellor is expected to defend the market
economy against Labour's dangerous and outdated ideology, telling
Conservative Party members:
"Our economy is not broken: it is fundamentally strong. And while
no one suggests a market economy is perfect, it is the best
system yet designed for making people steadily better off over
time and underpinning strong and sustainable public services for
everyone.
"As this model comes under renewed assault, we must not be afraid
to defend it.
"The market economy frees people and businesses, encourages them
to create, take risks, give ideas a go because they can see the
results and benefit from their success.
"It's the profits from such businesses that underpin our savings
and our pensions. And the wealth that a strong market economy
creates which, in the end, pays for our public services.
"We are the party of progress. The Party that makes a clear
commitment to the next generation - that they will be better off
than us; and that their children will be better off again than
them. This is the Conservative definition of progress and I
pledge to the next generation: we will not let you down."
Transport Secretary also confirms:
"Today I can announce that we will deliver £100 million for local
road schemes across the North of England.
This Investment will help to reduce traffic congestion in the
North West the North East, Yorkshire and the Humber. The details
of individual schemes will be announced in due course.
But we know, delivering junction improvements and enhancing the
traffic management will give better journey times will open
access to sites for housing development and employment in the
North of England."
Notes to Editors
· Local roads funding of £100m from NPIF has been agreed out of a
£490m pot.
· Northern Powerhouse rail is £340m including Barnett in the
2020s.
· The additional £300 million will help ensure HS2 infrastructure
can accommodate future Northern Powerhouse rail services.
Transport for the North and Midlands Connect are working up the
case for these services. This aims to enable faster services
between the Northern cities of Liverpool and Manchester,
Sheffield, Leeds and York, as well on towards Leicester and other
places in the East Midlands and London. It will also enable
future services between Liverpool and Leeds to go via Manchester
Piccadilly station.
· By 2020 we will have spent more than £13 billion on improving
and modernising transport links across the Northern Powerhouse.
