£1.2bn Cardiff City Deal to proceed

The agreement signed in March with the Cardiff Capital Region (CCR) is due to go ahead, despite the current uncertainty surrounding Brexit.

The deal, worth of £1.2 billion, has been questioned since the referendum result, as part of the agreement includes a £106 million fund from the European Union.

However, Alun Cairns, Secretary of State for Wales, has confirmed that the deal still retains the green light after meeting with the leaders of the CCR.

He said: “Following the meeting, I have reaffirmed my support and commitment to the project, and work with all the partners to maximise the positive outcomes of a landmark City Deal. The City Deal, post Brexit, can continue to provide the springboard for Cardiff to emerge as a leading engine of growth in the UK.”

As George Osborne, then Chancellor, said in March, the deal is expected to create up to 25,000 jobs and leverage £4 billion of private sector investment ‘by handing real power to local decision makers that are best placed to ensure the welsh economy is fit for the future’.