Investments in transport and science and a historic devolution deal for the North East will be set out today as the Prime Minister hosts her Cabinet meeting in Gateshead.
Discussions at today's Cabinet meeting will focus on implementing the Government’s Modern Industrial Strategy, making sure the Government delivers a Brexit deal works for the whole country, and discussing the pivotal role of Local Enterprise Partnerships (LEPs) in boosting growth and prosperity across the Northern Powerhouse.
As part of the Government’s commitment to overhaul transport in the region, the Prime Minister will confirm an investment of up to £780m for major upgrades to the East Coast Main Line from 2019, to be completed in the early 2020s.
Building on the Government’s devolution agenda for the Northern Powerhouse, the Prime Minister will also confirm that Government will lay the legislation to formally conclude the North of Tyne Devolution Deal with Newcastle, Northumberland and North Tyneside. The deal, which marks an unprecedented transfer of powers from central Government to local people in the North of Tyne, is worth £600m over 30 years and is expected to generate 10,000 new jobs in the region.
Alongside this, as part of the wider economic transformation of the North East, Theresa May will announce a further investment of £180m to drive forward innovation and cutting-edge research in the field of Offshore Renewable Energy Innovation and the High-Value Manufacturing Catapults, which has major facilities in the region.
Today’s announcements reaffirm the Government’s commitment to position the Northern Powerhouse at the heart of its work to spread growth beyond London and the South East across the entire country, and to build a more prosperous and inclusive economy where everybody has the opportunity to reach their full potential.
Prime Minister Theresa May said: "Making Britain a country that works for everyone, in urban and rural regions, is a priority for my Government - and a thriving economy across the Northern Powerhouse is central to that.
"We have set out major policies and investments as part of our Modern Industrial Strategy to unlock the potential in the North - and more than any government in history, we are making sure that we are delivering the outcomes that really matter to people who live and work here.”
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