£260 million announced for the Borderlands growth deal
Scotland is set to benefit from new funding for a Borderlands growth deal the Chancellor announced in the Spring Statement.
Five local authorities from north and south of the border have worked in partnership with the UK Government on the ambitious Borderlands Deal that will deliver wide-ranging benefits throughout the region.
The funding levels for specific projects will be confirmed later this year and is expected to focus on energy projects, improving transport links, rural productivity and tourism across the region - boosting jobs, creating opportunity and encouraging further inward investment.
Up to £260 million for a Borderlands Growth Deal covers the border regions of England and Scotland. This includes £65 million new funding from the UK Government for the Scottish areas of the deal, the Scottish Borders, Dumfries and Galloway. This is in addition to the £102 million recently announced from the Housing Infrastructure Fund for Carlisle, giving a total of £362 million of UK Government funding to the Borderlands area.
Scottish Secretary, David Mundell yesterday said:
The announcement of £362 million UK Government funding for the Borderlands is absolutely fantastic news for the region.
This exciting deal will boost economic growth by helping existing business, encouraging new ventures and bringing a wealth of improvements to people who live and work in the area and to visitors.
It is an ambitious approach to cross-border working between Governments, local authorities and partners and I’m confident that together we can create jobs and opportunity and bring investment.
This new funding from the UK Government brings our investment in growth deals in Scotland to more than £1.35 billion, and shows our huge commitment to growing Scotland’s economy.
Latest News from
‘What should the Spending Review focus on?’: speech by the Chief Secretary to the Treasury20/03/2019 15:20:00
Onward speech from the Chief Secretary to the Treasury, Elizabeth Truss, on the Spending Review.
Female representation in the City is rising thanks to Treasury Charter14/03/2019 16:51:00
"HM Treasury’s Women in Finance Charter continues to play a leading role in improving the gender balance across the UK’s financial services sector", says Jayne Anne-Gadhia.
£100 million funding for police to tackle violent crime14/03/2019 14:10:00
A further £100 million funding will be made available to police forces in the worst affected areas in England and Wales for knife and violent crime, the Chancellor yesterday (Wednesday 13 March) announced in the Spring Statement.
Tech giants do not face enough competition – reducing consumer choice and innovation14/03/2019 11:10:00
An independent panel of experts says UK competition rules must be updated for the digital age.
Temporary tariff regime for no deal Brexit published13/03/2019 16:10:00
Government has published details of the UK’s temporary tariff regime for no deal, designed to minimise costs to business and consumers while protecting vulnerable industries.
Spring Statement 2019: Philip Hammond's speech13/03/2019 15:51:00
The Spring Statement speech in full (check against delivery).
Spring Statement 2019: what you need to know13/03/2019 14:47:00
The Chancellor has presented his Spring Statement to Parliament – here's a summary of what he said.
Landmark review sparks action to boost number of female entrepreneurs08/03/2019 17:12:00
Independent review finds huge untapped economic potential of female entrepreneurs going to waste and calls for action.