City Region

Today during the Chancellor of the Exchequer’s Budget speech there was one line which particularly interested us.

He mentioned the Edinburgh City Deal. In fact it is called the Edinburgh and South-East Scotland City Region Deal, but it is a big name for a big deal.

The City Region deal is a mechanism for accelerating growth through investment in innovation, skills and infrastructure. It is hoped this will create a step change in economic performance that will generate funds to pay back this initial investment.

It is also about greater autonomy and disseminating powers for the region to make public service delivery more effective, increase productivity and to tackle inequality and deprivation across the city region.

The ambition is to secure £1bn of funding and it is estimated that an additional £3.2bn worth of private sector investment could be leveraged if the bid is successful.

The Leader of the City of Edinburgh Council, Councillor Andrew Burns,  said: “I was delighted to hear confirmation inthe Chancellor’s budget Statement this afternoon, that the “Edinburgh and South-East Scotland City Region Deal now has formal Treasury-recognition, and is thus entering the detailed negotiation stage.

“The ‘Edinburgh and South-East Scotland City Region’ comprises a total of six local authorities, as per the map – with some 24% of the whole Nation’s population living in this part of Scotland.

‘‘We are delighted with the Chancellor’s pledge to develop a City Deal for our region and welcome the opportunity to continue our engagement with both the UK and Scottish Governments.

“This commitment from Westminster is a step forward for our proposals to tackle inequality and accelerate substantial economic growth through investment in innovation, skills and infrastructure.

“We submitted our proposals in September 2015 and remain as determined as ever to negotiate greater fiscal powers for our region and funding towards strategic housing, transport and infrastructure to help the region to become the most connected, creative, inclusive and innovative place in Europe.”

Green councillors have welcomed progress with a so-called “city deal” for the Edinburgh and South East of Scotland announced in today’s UK Budget, but repeated calls for it to look forward to the economy of the future.

Green Finance and Economy Spokesperson Cllr Gavin Corbett said: “The city deal is a massive opportunity to put billions into Edinburgh’s economic future –  and that means making sure that we compete with cities like Copenhagen and Munich in 21st century transport, high-efficiency heating and waste systems and creating the clean, green public spaces which attract businesses to invest.

“There are too many business-as-usual city deals, formed from road-building and out-of-town business districts. Edinburgh needs to break the mould.”

Conservative Leader Ruth Davidson who is standing in Edinburgh Central at the forthcoming election said it was another commitment from the UK Government to Scotland’s major cities.

 

Ruth claims she lobbied hard for the deal for the Capital and said: “This is another commitment from the UK Government to Scotland’s major cities.

“Edinburgh is a financial centre and potentially a real powerhouse for both the UK and Scottish economies.

“This deal will help build on that reputation, creating jobs and opportunities for the whole region.

“It’s yet another union dividend, and I thank the two million people who voted to remain part of the UK in 2014.”

Read more here about the City Deal. 

 

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Founding Editor of The Edinburgh Reporter.
Edinburgh-born multimedia journalist and iPhoneographer.