Rishi Sunak has announced plans to spend billions on regional development schemes across the UK.
The Chancellor announced in the Budget plans for more than £1 billion for 45 new Town Deals designed to create jobs and drive growth across the country.
He also revealed city and growth deals in Ayrshire, Argyll and Bute, and Falkirk, adding there will be three more in North Wales, Mid Wales, and Swansea Bay.
He added there will be funding for the Holyhead hydrogen hub, the Global Centre of Rail Excellence in Neath Port Talbot, the Aberdeen Energy Transition Zone, and the Global Underwater Hub and the North Sea transition deal.
Mr Sunak said: “Through the Barnett formula, the decisions I’m taking in this Budget also increase the funding for the devolved administrations, by £1.2 billion for the Scottish government, £740 million for the Welsh government and £410 million for the Northern Ireland executive.”
Rishi Sunak confirmed the Treasury would establish a new economic campus in Darlington, along with the more than £1 billion for 45 new towns deals.
He also said: “We’re creating a £150 million fund to help communities across the UK take ownership of pubs, theatres, shops, or local sports clubs at risk of loss – putting more power in the hands of local people.”
Concluding his Budget, Rishi Sunak told MPs: “Today we set out a plan to protect the jobs and livelihoods of the British people but the promises that underpin that plan remain unchanged from those we pledged ourselves to 12 long months ago.
“To unite and lead, to level up, to create a world-class education system, to keep our streets safe, to keep our NHS strong, to support the most vulnerable, to reform and improve public services, to grow the economy, to spread prosperity, to extend the awesome power of opportunity to all corners of the United Kingdom, and, yes, to be honest and fair in all that we do.
“An important moment is upon us. A moment of challenge and of change. Of difficulties, yes, but of possibilities too. This is a Budget that meets that moment.”
