“A Good Deal for Newcastle – and Gateshead!”

Its good news all round for Newcastle and Gateshead with the city deal with the Coalition Government. So what’s involved?

  • Creation of an Accelerated Development Zone for Newcastle and Gateshead – a commitment by central government to ring-fence business rate income in four growth sites and to retain the locally. This will allow both councils the financial freedom to deliver ambitious plans for private sector-led growth, initiating a £90m infrastructure programme
  • The Government and Newcastle City Council will also work together to secure a further £500m in private sector investment to create 8,000 jobs in the marine and offshore engineering sector in the north-east, and “position Newcastle as a pioneer in the low carbon economy”. The deal also includes initiatives on transport, broadband, employment and skills, and housing
  • Governance: Newcastle will work with other local authorities towards creating a combined authority for the whole north-east. Separately, in response to the governance requirements of the Accelerated Development Zone, Newcastle and Gateshead intend to further strengthen their partnership, by giving it formal decision-making powers and making it subject to greater scrutiny and accountability
  • Newcastle will also be given a say over how former regional development agency assets are used in the city.

Speaking ahead of the announcement, Newcastle Council leader Nick Forbes said: “This is an innovative and groundbreaking scheme in which we are given the financial flexibility to invest in our own future, and is a major vote of confidence in this city.

“While there a many parts of Government policy I disagree with they have here signalled a commitment to devolving significant powers to us and that is very welcome.”

Come on them councils how can local businesses get involved?

Some good news for the North East – well done Newcastle and Gateshead councils!

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