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

London

  • Crossrail 2 ?80m development funding
  • Near 100 per cent business rates?retention with the Greater London Authority
  • Support for the expansion of the Royal?College of Art?s?Battersea Campus
  • Support for the British Library to develop its?Central London site

South East of England

  • National Infrastructure Commission to make proposals on developing the?Cambridge-Milton Keynes-Oxford corridor
  • ?7m to improve rail station facilities at?Redhill, Newbury and High Wycombe

South West of England

  • West of England Devolution agreement,?including ?900m gainshare pot, devolved?transport budget and powers over adult skills
  • ?19m from stamp duty receipts to community-led?housing schemes in areas where the impact of?holiday homes is most acute
  • ?5m additional development funding to?improve resilience on the Dawlish rail line
  • Increase in grant funding to ?14.5m for?ultrafast 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 Engine?Investment Fund for smaller businesses
  • Midlands Connect put on a statutory?footing as well as and development of itspriority roads schemes,?including M1 upgrades, and improvements?on the A45, A46,M42 and M5
  • Greater Lincolnshire Devolution?Deal, including ?450m gainshare?pot, devolved transport budget?and more joined-up adult skills?and criminal justice?
  • New Enterprise Zones for Loughborough?and Leicester, and for Brierley Hill, Dudley
  • ?16m grants to aerospace industry?including ?7m for Rolls-Royce in Derby
  • ?14m for STEAMhouse, a new?innovation centre in Birmingham?s?Creative Quarter,Digbeth

Northern Powerhouse

  • Over ?150m investment in flood defence?schemes in Leeds, Cumbria, Calder Valleyand?York
  • ?13m for Hull UK City of Culture 2017
  • Additional ?130m to repair roads?and bridges in Cumbria, West Yorkshire,?Northumberland, Greater Manchester, Durham?and North Yorkshire
  • ?20m per year Northern Powerhouse?Schools Strategy to improve schools
  • ?15m for National Institute for Smart Data?Innovation, Newcastle
  • ?161m to accelerate transformation of the?M62 into a smart motorway, reducing congestion
  • ?75m to fast-track development of major?new road schemes including on the M60,A66?and A69 and Trans-Pennine tunnel
  • ?60m to green light HS3 between Leeds and?Manchester and for other major city raillinks
  • ?300m further investment in transport?including:
  1. ?Extension of Sheffield City Region Enterprise Zone, subject to agreement
  2. Working with Greater Manchester to devolve?powers 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 adult?skills budgets
  3. ?151m towards building new river crossings?at Lowestoft and Ipswich
  4. ?50m for a new world-leading centre for?food 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 Dundee?s V&A?development
  • Freezing duty on Scotch whisky
  • Opening negotiations on a city deal for Edinburgh and South East Scotland

Wales

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

Northern Ireland

  • Stormont House Agreement funding now?delivering infrastructure investment
  • ?4.5m for an air ambulance service in?Northern Ireland
  • Pilot Enterprise Zone near Coleraine?offering Enhanced Capital Allowance

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

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