Chancellor Philip Hammond has unveiled plans for an extra £400million to be allocated for new northern transport links across the North of England.
At the Conservative Party conference in Manchester, Mr Hammond said that the investment would ensure that the economic benefits following Brexit will be spread across the country rather than within the confines of the south and the M25.
The Chancellor unveiled £300million for new rail projects and £100million for roads to boost the Government “Northern Powerhouse” initiative and ensure that the economic benefits after Brexit will be better spread across the country.
On rail funding, the chancellor said cities in the East Midlands would also benefit from the £300m modernisation and connectivity package designed to help the north reach its “full potential”. The £300m allocated to rail projects will fund new links to the proposed HS2 high-speed route with cities across the north, speeding up journey times between Liverpool, Manchester, Sheffield, Leeds and York.
The £100million Treasury funding will support 33 major new road schemes including ten in the North East, 13 in the North West and ten in Yorkshire and Humber, designed to improve traffic flow, reduce journey times and improve connections.
The chancellor also said his party must address concerns over pressure on living standards and housing costs and insisted that the British economy was “fundamentally strong”, with employment at a record high and income inequality at its lowest level for decades.