£1.7 billion for Northern city-centre projects

The government has announced £1.7 billion of investment into city-centre projects in the North.

The money will support jobs and development in cities across the Northern Growth Corridor, including in Leeds South Bank, Liverpool Central, Manchester Victoria North, Newcastle and Gateshead Quays, and Sheffield City Centre and Innovation Spine.

Mayors will get the money and tools to remove roadblocks holding up big city-centre projects and large‑scale regeneration schemes.

The funding is expected to deliver housing and career opportunities within a short commute of home for up to nine million people.

It is hoped the funds will attract and unlock much larger sums from private investors.

In West Yorkshire, the Mayor will have access to £145m new money to support jobs and development in places such as the Leeds South Bank.

The Mayor of South Yorkshire will have access to £85m new money to support jobs and development, including in the Don Valley Corridor and Sheffield Innovation spine.

And in the North East, the Mayor will have access to £120m of new money to accelerate job creation and development across places such as Newcastle and Gateshead Quays.

Chancellor of the Exchequer Rachel Reeves said: "I want every part of Britain to do well. That’s why we’re going for growth all across the country, not just in a few places, because I want everyone to be able to succeed no matter what their parents do, where they grow up, or where they choose to settle down.

"Our economic plan is the right one. By bringing back stability in our public finances, boosting investment in our infrastructure and driving reform, we’re building a stronger more secure economy."

Andy Burnham, Mayor of Greater Manchester said: "We have long made the case for the North as the UK’s biggest growth opportunity and it is great to see the Chancellor giving it such strong backing.

"Over the past decade, Greater Manchester has become the UK’s fastest growing city-region and in the next we are ready to go even further and faster. We have a plan to re-industrialise the birthplace of the Industrial Revolution and now have the necessary investment to deliver it.

"Greater Manchester is breaking with old discredited “trickle-down” models of economic growth and pioneering a new approach lifting all people and places. Our new Good Growth Fund is driving it and this welcome support from the Government is a vote of confidence in it. Later this week, we will set out a new round of investment in major projects across all ten boroughs, delivering the good homes, good jobs and better transport our residents deserve."