+44 (0)151 958 0440 enquiries@acentusrealestate.com

 

New Funding Agreement That Will Benefit Liverpool City

Jul 17, 2018 | Business, News, Regional

Further funding powers has been granted as part of the Northern Powerhouse initiative last week (12 July 2018). This will benefit residents, businesses and the local economy in the Liverpool City Region.

The agreement will see over £120 million moved into the City Region’s revenue budget, from its capital budget, over the next 27 years. The move will boost the City Region’s investment programme, launched following the £900 million devolution deal in 2015.

Along with the Combined Authority, Liverpool City Region metro mayor Steve Rotheram will now be granted more powers in terms of planning and investing in the local area, with housing, transport improvements and learning facilities at the top of the agenda.

Devolution away from Whitehall towards Northern Powerhouse areas such as Liverpool and Manchester has been in progress for a number of years now, with a £900m devolution deal secured in 2015, and this latest agreement will see even more scope for improvement and change in the area.

Steve Rotheram, Metro Mayor of the Liverpool City Region, said:

“I welcome this announcement which gives us more power over how we use the £30 million a year we receive from central government under our devolution agreement. This shows their confidence in our ability to drive long-term growth and make a real difference to people’s lives across the city region.”

“Since 2010 we’ve seen nearly 50,000 new jobs created in the Liverpool City Region alone, and inward investment increased by 6% in the north-west as a whole in the last year.”

The announcement comes on the latest leg of the minister’s regional tour, where he is championing innovation and looking at how British businesses are boosting productivity. During the visit, he will meet business leaders from the region’s Chambers of Commerce and visit tech firms at the Daresbury Enterprise Zone.

Robert Jenrick, Exchequer Secretary to the Treasury, commented:

“Liverpool and Merseyside are important parts of the Northern Powerhouse, with businesses in the region delivering vital skills, jobs and growth. Today’s announcement will build on this progress and provide greater flexibility for leaders to deliver the jobs, infrastructure and growth in productivity that will help secure the region’s place in the new economy.”

The long-term economic growth of the area will be the prime focus of the funding agreement, rather than day-to-day running costs, according to Liverpool Council.

Source: https://www.gov.uk/government/news/extra-funding-freedoms-for-liverpool-city-region

Contact Us

Recent Articles


How Modern Property Investment Has Adapted

The overlooked property investment sector For investors, property in the UK has proved highly resilient and traditionally offered strong returns over the long term. However, right now the opportunities for making money from property investment seem scarce - apart from...

The Most Overlooked Sector In Property Investment

What everyone has missed about property investment If you’ve not heard about property bonds, you’re missing a major investment opportunity to take advantage of the traditionally strong property market. W hile property ownership and portfolios are no longer...

Factors To Consider When Investing In Property

In today’s volatile environment, there’s one investment standing out from all others in the UK: property. Despite the worry that Brexit would have an adverse effect on property prices, the weak pound has brought an influx of interest from overseas property investors...

Immediate High ROI Opportunities For HNW Investors

If you are a High Net Worth (HNW) Investor, you need to read this… There are many reasons why investors are searching for better investment opportunities right now. But for individuals with a net worth more than £250,000, there is even more reason to check your money...

Liverpool Tops UK Cities House Price Inflation

Property prices in key cities in the UK increased by 3.9% in the 12 months to August 2018 with Liverpool topping the list with a year on year to August 2018 inflation at 7.5% After Liverpool the next biggest annual rise was in Glasgow at 7.2%, followed by Nottingham...

apartments for sale liverpool

The Rise

Low Hill, Liverpool L6 1AB

From £66,411

apartments for sale

Strand Plaza

The Strand, Liverpool (L2)

From £110,000

Gibson Park

Wallasey, Liverpool

Coming Soon

Subscribe For Property Investment Updates

Sign up today and receive updates on the latest property investment opportunities, available incentives and investor success stories. By subscribing you are consenting to receive email updates from Acentus Real Estate Ltd.