Budget: Handouts to regional projects

Aaron Morby 7 years ago
Share

The Chancellor extended a package of support to the Northern Powerhouse and spread some extra cash to the Midlands and East of England to promote regional growth.

As well as bringing forward flood defence schemes in South East, Midlands and East of England, he committed £97m to support of the regeneration of Brent Cross in North London.

A further £60m of cash will be invested in the development of a Midlands energy technologies centre.

George Osborne also announced the government will fund a high speed rail investment summit in Birmingham to attract overseas investment into regeneration projects.

He also confirmed the first 20 Housing Zones outside London with the potential to deliver 34,000 homes.

New funding for regional projects

Northern Power House
The Government’s newly set up Transport for the North will shortly publish an interim report, committing to build on the concept of HS3.

This will set out plans for a network of high quality rail connections across the north – known as the TransNorth vision, which Osborne billed as an acceleration of the process.

Other spending pledges included:

  • Go-ahead for the electrification of the Selby to Hull line, subject to an acceptable contribution from Hull Trains
  • £20m to Health North – funding new centres in Newcastle, Liverpool, Manchester and Leeds-Sheffield
  • Sheffield ‘Maker Hub’ – £3.5m government investment to renovate a former Co-Op department store in the Castlegate area
  • Leeds ‘Future Labs’ – £3.7m government investment to renovate a derelict police headquarters in the heart of Leeds, creating a 6-floor incubator
  • Manchester ‘Forward Plan’ – £4m government investment towards an 8 floor incubator in Federation House, located in Manchester’s Northern Quarter
  • £14m for Advanced Wellbeing Research Centre in Sheffield

Midlands

  • £60m investment in a new Energy Research Accelerator, to develop the energy technologies of the future
  • New Housing Zones at Bassetlaw, Gedling, West Lindsey, Derby and Stoke-on-Trent to deliver 7,500 new homes
  • Bringing forward £21.7m for flood and coastal erosion programme with 46 schemes to be delivered early and 8 new schemes

East of England

  • £34m extra spend in Croxley rail link extension
  • £4m for for Wet Dock Crossing in Ipswich and Lowestoft Third River Crossing
  • £11.8m for a new Centre for Agricultural Informatics and Sustainability Metrics in Harpenden, Hertfordshire
  • Advancing £16.8m investment in flood defences over the next four years. Key schemes will start in Canvey Island in 2016, and new projects in Great Yarmouth and Canvey Island will be funded within the 6-year programme

South West

  • New study looking at reopening Plymouth airport
  • New Housing Zones at South Bristol, Hinkley, Poole, Weston-super-Mare, Ashchurch, Gloucester and Foxhill to deliver 11,000 new homes

London

  • The government committed to £97m support for the regeneration of Brent Cross to unlock 7,500 homes and support 27,000 jobs
  • £7m to support the development of the Croydon Growth Zone, to unlock over 4,000 homes and more than 10,000 jobs

South East

  • Bringing forward £41m investment in flood defences, for 40 flood schemes to be delivered early and ten new schemes to be included in the flood and coastal erosion programme

Latest news

W Stirland set for administration after nearly 100 years of trading

Family-run south coast firm has been building since 1928
8 hours ago

BAM UK delivers steady first half growth

UK profit up 16% to around £40m from revenue at £1bn
9 hours ago

Crane hirer M&M enters voluntary liquidation

Family-owned mobile crane ceases trading amid soaring costs and depressed hire rates
8 hours ago

£161m funding for Oxford Railway station revamp

Kier to deliver first project under the new Rail SPEED initiative
8 hours ago

VolkerFitzpatrick wins 240km wind farm cable job

Contractor lands connections deal from energy giant Ørsted
8 hours ago

Seddon Construction returns to profit

Plan to target more diverse work pays off as construction revenue rises 27% to £166m
8 hours ago

Faults found on giant HS2 green tunnel segments

"Quality issues" found on precast segments at HS2 site pioneering off-site construction
1 day ago

Balfour Beatty UK construction returns to profit

Group profits double to £82m in first six months after construction arm bounces back
1 day ago

Bidding starts for £4.5bn Southern Construction Framework

5th generation deal includes new £1m-£5m lot for south west
1 day ago

Persimmon expands output at off-site factories

Housing giant hits 31% profit margin with another £750m returned to shareholders
1 day ago

Modular specialist Algeco lands £31m MoD double

Construction to start this year on two new sets of army barracks
1 day ago

Hill gets go-ahead for North London estate rebuild

750 homes to be built at Douglas Bader Park estate in Colindale
2 days ago

Bid race for £210m Huddersfield town centre revamp

Kirklees Council's Cultural Heart scheme will be split into two major projects
2 days ago

£100m Darlington Station revamp enabling works start

Willmott Dixon set to deliver major station upgrade project
2 days ago

Demolition worker gets huge payout after losing leg

Compensation settlement will fund latest prosthetic limb technology for site victim
2 days ago

Plant hirer Vp abandons sale plan

Chairman Jeremy Pilkington says the plant hirer failed to find a suitable new owner.
2 days ago

Turner & Townsend on board for Sheffield Supertram upgrade

Consultant to help deliver programme over next seven years after £570m funding deal
2 days ago

Green light for new £33m Ipswich logistics park

Construction to start this October on latest Trebor Developments site
2 days ago

Piling starts on pioneering double composite HS2 viaduct

Wendover Dean Viaduct ‘double composite’ structure will halve carbon emissions
2 days ago

ISG pauses work on £300m gigaplant

Construction work rescheduled to reduce costs at giant car battery plant
3 days ago

Tory leadership battle delays bidding for HS2 phase 2a

Prequalification for £5.2bn-£7.2bn route to Crewe put back to September
3 days ago

Greswolde Construction goes under

Solihull contractor ceases trading with 24 jobs lost
6 days ago

Hanson on track for UK’s first net zero cement works

20 carbon capture projects shortlisted for £1bn funding
3 days ago

Plan in for Nottingham 967-room student scheme

Vita submits plan for second major purpose built student sh
3 days ago

Galliford Try gets go-ahead for next A47 dualling job

Early 2023 start for £200m section of A47 between North Tuddenham and Easton in Norfolk
3 days ago

Designs revealed for £1bn London Blackfriars tower blocks

Fosters design landmark green office skyscraper and two blocks of flats for Southwark site
6 days ago

Everton stadium job still on budget despite inflation

Club and Laing O'Rourke confident they can still build new ground for £500m
6 days ago

Construction output falls 1.4% halting 7-month growth spurt

Fresh output and orders figures confirm summer construction slowdown
6 days ago

McLaren gets green light for £85m build-to-rent scheme

Construction set to start this autumn on major city centre development
6 days ago

BAM limbers up for £25m Bedworth leisure centre

Pioneering Warwickshire health and fitness hub to start this autumn
6 days ago

Contractor services