To ask the Chancellor of the Exchequer, what fiscal steps he is taking to increase economic productivity in the West Midlands.
26 March 2019
People across the West Midlands are benefitting from investment that the Government is making to support productivity, with 315,000 more people in employment in the West Midlands than in 2010 and close to 91,000 more businesses.
For example, the Government has agreed devolution deals with the West Midlands that include investment of £1.095bn over 30 years for local priorities. At Budget 2018, the Government also announced an additional £71.5 million for the West Midlands Combined Authority from the Transforming Cities Fund, bringing the total figure for the region to £321.5 million. In addition, the West Midlands was announced in the last year as the UK’s first large-scale 5G testbed, with up to £50 million from the National Productivity Investment Fund, and three areas in the region successfully bid for a total of £19.8 million from the £190 million Local Full Fibre Networks Challenge Fund. North Herefordshire is also benefiting from £75.3m funding for the Marches Local Enterprise Partnership (LEP) from the Local Growth Fund to support economic activity in the area.