Growth deal top-up for North West
The government has announced an additional £140m fund for local enterprise partnerships across the North West, in addition to the £1.1bn investment allocated in July 2014.
In the first wave of deals committed to last year, around £330m was allocated to the region for 2015-16, while a further £783m was committed in indicative funding from 2016-17 onwards.
The initial local growth fund was drawn from the existing budgets of central government departments, and the £140m additional pot is a further devolution of funds to local authorities.
The second round of funding will focus on infrastructure projects.
Greater Manchester's LEP received the biggest sum, with £56.6m between 2016 to 2021 to add to the £476.6m granted in July. The pot will go towards a transport works programme and investment in the Greater Manchester business growth hub.
The Liverpool LEP received £30.2m on top of the initial £232m fund. Liverpool will establish a capital investment fund for projects in the area, as well as a low carbon delivery unit.
Lancashire was granted £17.2m on top of its £233.9m growth deal. The money will be used for junction improvements on the M6 and projects in the Rawstenstall redevelopment zone.
Cumbria has almost doubled its growth deal allocation, with £20.9m on top of the £26.8m received in the first round. Investment will focus on broadband roll-outs and infrastructure at the Port of Workington.
Cheshire & Warrington is set to receive £15.1m in addition to its £142m deal.
Otherwise known as a pre-election bribe. This isn’t real devolution as there is no certainty about future funding, it’s merely chunks of money being handed down at a point in time that suits our lords and masters in Westminster.
By Cynic