Saturday 17 August 2019

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25 November 2015

Spending Review and Autumn Statement 2015

The government invests further in the Midlands through the Spending Review:

Transport - Midlands Connect

  • building on the government’s £5 million commitment to Midlands Connect at the Summer Budget, the government will now work with the Midlands to develop a long-term transport strategy for the region through the creation of a new Midlands Connect Strategic Board, whose members will include the Department for Transport (DfT), Highways England, Network Rail, HS2 Ltd and local authorities and Local Enterprise Partnerships from across the Midlands
  • launching the competition for the new West Midlands rail franchise, which will incentivise bidders to deliver better services and enhanced capacity, along with better stations and access, both in the West Midlands and on commuter routes into London. The next franchisee will also be required to work with West Midlands Rail to prepare for the journey towards full devolution of rail services to the West Midlands. West Midlands Rail and DfT will jointly launch a public consultation in December

HS2 Growth Strategy Funding Confirmed

  • providing £1.25 million to D2N2 (a business-led Local Enterprise Partnership covering Derby, Derbyshire, Nottingham and Nottinghamshire) to develop a growth strategy for the proposed High Speed 2 station at Toton. This will enable them to start work on long term plans for regeneration and development, bringing in investment and businesses

Road Investment

  • confirming that Highways England’s planned investment to Junctions 16 to 19 of the M1 has started construction ahead of schedule, and is due to complete in 2017. Work has also started ahead of schedule on the M5 Junctions 4a to 6

Education and Skills

  • providing support to secure launch funding to create a new university in Hereford focused on engineering in 2016 (subject to relevant approvals). The government is also investing £60 million in the proposal by six universities across the Midlands for a new Energy Research Accelerator, a major project to develop the energy technologies of the future
  • committing £18 million to the Excellence in Precision Agriculture Innovation Centre, which will be partly headquartered in Shropshire. This will be 1 of 4 agri-tech centres, which will develop new engineering technologies to increase the productivity and sustainability of UK agriculture

Business Support

  • building on their ongoing collaboration, all 11 LEPs in the Midlands are working with government to maximise the impact of the new round of European financing for smaller businesses across the Midlands
  • providing £5 million for a Midlands Engine Trade and Investment Plan, to market the world-leading strengths of the Midlands overseas, including through an integrated events and trade missions programme, new specialist advisers and new resource to support inward investment
  • investing £2.5 million of capital funding to support Birmingham Dance Hub to create a new dance performance space and £1.5 million of resource funding for the Birmingham Festival Programme of dance to create a new dance training and education programme
  • the government will create a new Enterprise Zone in Stoke/Staffordshire Ceramics Valley and the extend the existing Enterprise Zone at Infinity Park Derby

For further information on the Spending Review visit here

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