Glasgow to benefit from £1.1bn City Deal

July 3, 2014 12:38 PM
Originally published by UK Liberal Democrats

Glasgow is set to receive £1.1bn, a jobs boost of 28,000 and an airport rail link as part of a new City Deal announced today.

The city is the first in Scotland to benefit from the City Deal status - an agreement between the Treasury and the region.

The deal involves a transfer of extra economic power and finance in exchange for a detailed plan to invest in the area's economy.

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The Glasgow City Deal is expected to kick-start the creation of more than 28,000 new jobs in the region and drive economic growth to around £1.75bn a year.

The deal will also provide support to ill or disabled people looking for work and to 15,000 young people over the next three years.

Commenting, Liberal Democrat Chief Secretary to the Treasury Danny Alexander said:

"This investment will allow Glasgow to maintain and develop its reputation as a 'world city' by modernising its infrastructure and unlocking economic growth. It's part of our Liberal Democrat commitment to rebalance the UK economy by boosting our cities and regions so that everyone can share the benefits of the stronger economy and fairer society that we are building."