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Construction News
23/01/2017
PM Unveils Proposals To Boost Northern Powerhouse
Prime Minister (PM) Theresa May has unveiled proposals to significantly invest in the Northern Powerhouse as part of the UK's post-Brexit plans.
In her first regional Cabinet meeting today, 23 January, the PM set out her Modern Industrial Strategy which involves boosting the Northern Powerhouse with £556 million to create jobs, support businesses and encourage growth.
New projects include;
• Goole Intermodal Terminal; linking the town's existing rail, sea, motorway and inland waterway links into one site, providing an integrated transport facility for business
• Building a modern conference centre and hotel in Blackpool at the Winter Gardens
• £10m for the Greater Manchester and Cheshire Life Sciences Fund to provide capital to local SMEs to drive the growth of innovative young life sciences businesses
• Flood resilience measures in Bradford, Calderdale, Craven, Kirklees and Leeds. These will complement existing government investment and help safeguard over 11,000 jobs and 1,300 businesses
• Building the International Advanced Manufacturing Park in Sunderland and South Tyneside - helping to creating an estimated 5,200 jobs.
In addition, the Modern Industrial Strategy green paper contains ten key strategic pillars to help Britain achieve its post-Brexit economy, with key highlights including upgrading infrastructure, delivering 'affordable' energy/clean growth, and improving procurement.
Prime Minister Theresa May said: "The Modern Industrial Strategy will back Britain for the long term: creating the conditions where successful businesses can emerge and grow, and backing them to invest in the long-term future of our country.
"It will be underpinned by a new approach to government, not just stepping back but stepping up to a new, active role that backs business and ensures more people in all corners of the country share in the benefits of its success."
In addition, the £556m boost is on top of £2.9 billion of the Growth Deal funding already awarded to the 11 Local Enterprise Partnerships in the Northern Powerhouse region;
• North Eastern £49.7m
• Cumbria £12.7m
• Tees Valley £21.8m
• York, North Yorkshire, East Riding £23.7m
• Lancashire £69.8m
• Humber £27.9m
• Leeds City Region £67.5m
• Liverpool City Region £72.0m
• Greater Manchester £130.1m
• Sheffield City Region £37.8m
• Cheshire and Warrington £43.3m
(LM/MH)
In her first regional Cabinet meeting today, 23 January, the PM set out her Modern Industrial Strategy which involves boosting the Northern Powerhouse with £556 million to create jobs, support businesses and encourage growth.
New projects include;
• Goole Intermodal Terminal; linking the town's existing rail, sea, motorway and inland waterway links into one site, providing an integrated transport facility for business
• Building a modern conference centre and hotel in Blackpool at the Winter Gardens
• £10m for the Greater Manchester and Cheshire Life Sciences Fund to provide capital to local SMEs to drive the growth of innovative young life sciences businesses
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• Flood resilience measures in Bradford, Calderdale, Craven, Kirklees and Leeds. These will complement existing government investment and help safeguard over 11,000 jobs and 1,300 businesses
• Building the International Advanced Manufacturing Park in Sunderland and South Tyneside - helping to creating an estimated 5,200 jobs.
In addition, the Modern Industrial Strategy green paper contains ten key strategic pillars to help Britain achieve its post-Brexit economy, with key highlights including upgrading infrastructure, delivering 'affordable' energy/clean growth, and improving procurement.
Prime Minister Theresa May said: "The Modern Industrial Strategy will back Britain for the long term: creating the conditions where successful businesses can emerge and grow, and backing them to invest in the long-term future of our country.
"It will be underpinned by a new approach to government, not just stepping back but stepping up to a new, active role that backs business and ensures more people in all corners of the country share in the benefits of its success."
In addition, the £556m boost is on top of £2.9 billion of the Growth Deal funding already awarded to the 11 Local Enterprise Partnerships in the Northern Powerhouse region;
• North Eastern £49.7m
• Cumbria £12.7m
• Tees Valley £21.8m
• York, North Yorkshire, East Riding £23.7m
• Lancashire £69.8m
• Humber £27.9m
• Leeds City Region £67.5m
• Liverpool City Region £72.0m
• Greater Manchester £130.1m
• Sheffield City Region £37.8m
• Cheshire and Warrington £43.3m
(LM/MH)
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