The Budget - North East Investment Announced

22 November 2017, 14:00

Chancellor

Hundreds of millions of pounds of investment has been announced for the North East in the Budget.

The Chancellor confirmed there will be £123m made available for the redevelopment of the former SSI steel site in Redcar.

The plant closed in 2015, putting up to 3,000 local people out of work.

Tees Valley Mayor Ben Houchen said:

"On behalf of the board of the South Tees Development Corporation, I welcome the announcement today of the budget provision of £123 million of new money.

"This will now allow the Corporation to make significant progress on site."

Philip Hammond also announced £337m investment for a new fleet of Tyne and Wear Metro trains.

Tees Valley Mayor Ben Houchen said:

"On behalf of the board of the South Tees Development Corporation, I welcome the announcement today of the budget provision of £123 million of new money.

"This will now allow the Corporation to make significant progress on site."

Jonathan Walker, head of policy and campaigns, North East England Chamber of Commerce said:

"Our campaigning ahead of this Budget has been successful on a number of important issues for the North East."

"We wanted new Metro trains as a matter of priority and are delighted these are now on their way."

"As part of our desire to see a more influential North East we had asked for more funding and powers for Tees Valley and completion of a North of Tyne devolution deal."

"It is great news that the Chancellor has listened on both of these issues."