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The Budget 2016: A breakdown of regional investment throughout the UK

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London

  • Crossrail 2 80m development funding
  • Near 100 per cent business ratesretention with the Greater London Authority
  • Support for the expansion of the RoyalCollege of ArtsBattersea Campus
  • Support for the British Library to develop itsCentral London site

South East of England

  • National Infrastructure Commission to make proposals on developing theCambridge-Milton Keynes-Oxford corridor
  • £7m to improve rail station facilities atRedhill, Newbury and High Wycombe

South West of England

  • West of England Devolution agreement,including 900m gainshare pot, devolvedtransport budget and powers over adult skills
  • £19m from stamp duty receipts to community-ledhousing schemes in areas where the impact ofholiday homes is most acute
  • £5m additional development funding toimprove resilience on the Dawlish rail line
  • Increase in grant funding to 14.5m forultrafast broadband
  • New Enterprise Zone for Cornwall
  • £3m to improve rail station facilities
  • £2m to refurbish the Hall for Cornwall in Truro

Read more about the Budget 2016:

Midlands

  • Over 250m Midlands EngineInvestment Fund for smaller businesses
  • Midlands Connect put on a statutoryfooting as well as and development of itspriority roads schemes,including M1 upgrades, and improvementson the A45, A46,M42 and M5
  • Greater Lincolnshire DevolutionDeal, including 450m gainsharepot, devolved transport budgetAnd more joined-up adult skillsAnd criminal justice
  • New Enterprise Zones for LoughboroughAnd Leicester, and for Brierley Hill, Dudley
  • £16m grants to aerospace industryincluding 7m for Rolls-Royce in Derby
  • £14m for STEAMhouse, a newinnovation centre in BirminghamsCreative Quarter,Digbeth

Northern Powerhouse

  • Over 150m investment in flood defenceschemes in Leeds, Cumbria, Calder ValleyandYork
  • £13m for Hull UK City of Culture 2017
  • Additional 130m to repair roadsAnd bridges in Cumbria, West Yorkshire,Northumberland, Greater Manchester, DurhamAnd North Yorkshire
  • £20m per year Northern PowerhouseSchools Strategy to improve schools
  • £15m for National Institute for Smart DataInnovation, Newcastle
  • £161m to accelerate transformation of theM62 into a smart motorway, reducing congestion
  • £75m to fast-track development of majornew road schemes including on the M60,A66And A69 and Trans-Pennine tunnel
  • £60m to green light HS3 between Leeds andManchester and for other major city raillinks
  • £300m further investment in transportincluding:
  1. Extension of Sheffield City Region Enterprise Zone, subject to agreement
  2. Working with Greater Manchester to devolvepowers over criminal justice services
  3. New Life Chances Investment Fund

East of England

  • Devolution deal with East Anglia, including:
  1. £900m gainshare pot
  2. £175m ring-fenced-housing fund and devolved transport and adultskills budgets
  3. £151m towards building new river crossingsAt Lowestoft and Ipswich
  4. £50m for a new world-leading centre forfood and health research at Norwich
  5. £5m to redevelop St Albans City rail station

Scotland

  • A 1bn package of measures to supportthe oil and gas industry in Scotland
  • £5m for the City of Dundees V&Adevelopment
  • Freezing duty on Scotch whisky
  • Opening negotiations on a city deal for Edinburgh and South East Scotland

Wales

  • £500m over 20 years for the CardiffCapital Region City Deal
  • Halving tolls on the Severn River crossings in 2018, subject to consultation
  • Opening negotiations towards aSwansea Bay City Region deal
  • Opening the door to a growth dealfor North Wales

Northern Ireland

  • Stormont House Agreement funding nowdelivering infrastructure investment
  • £4.5m for an air ambulance service inNorthern Ireland
  • Pilot Enterprise Zone near Coleraineoffering Enhanced Capital Allowance

The Budget 2016: A 500-word summary for entrepreneurs and SME business owners

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