Economic Growth

Kick starting economic growth and ensuring that growth is felt in all regions of the UK is the number one mission of this Government. The government’s approach to regional growth will drive growth in city regions, towns and communities and make the most of the opportunities in each part of the country, to make everyone better off. There is excellence right across the country and this government is backing it: lifting living standards and putting more money in people’s pockets.

The recent Spending Review set out £15.6bn for some of our largest city-regions via the Transport for City Region settlements, with Tees Valley Combined Authority receiving £1bn funding improvements to Middlesbrough station and other local priorities. For places outside city-regions, the Local Transport Grant is receiving a fourfold increase in funding by 2029-30 compared to 2024-35. The new £410m Local Innovation Partnerships Fund will drive innovation excellence across the country, delivering R&D co-creation between local leaders and UK Research and Innovation (UKRI).

Our new long-term local growth programmes which will invest in 350 deprived communities across the UK, funding interventions across community cohesion, regeneration and improving the public realm. We are also funding at least £725 billion of economic and social infrastructure across the country over the next decade, as set out in our new Infrastructure Strategy.