Business groups in the North East have welcomed a devolution deal that will give the region more say over issues including skills and transport.
Leaders of the North East England Chamber of Commerce, the CBI and the Federation of Small Businesses have welcomed the announcement of a £4bn deal that will cover Tyne and Wear, Northumberland and County Durham. The deal - which will extend the current arrangements in the North of Tyne, and which has been touted as the most generous in the country - aims to create 24,000 extra jobs, deliver 70,000 courses each year and leverage £5bn of private sector investment.
If approved, the North East Mayoral Combined Authority (MCA) would be given a £1.4bn investment fund to be delivered over 30 years, control of up to £563m to improve the North East’s rail services, £17.4m for housing schemes, and a further £20m for regeneration projects. Local leaders would also have the power to bring the North East’s bus network back into public hands and full control over the areas’ £60m-a-year adult education and skills budget, while the deal is also expected to include the creation of a ‘green superport’.
