Home » News » Tees Transport Fund Hits £76million After Budget Boost
Tees Valley Combined Authority | Published on: 30th October 2018
A ground-breaking transport fund devolved to the Tees Valley has been given a £16.5million boost in yesterday’s Autumn Budget.
Chancellor Philip Hammond yesterday announced that six Metro Mayors in England will receive the further funding to deliver transport schemes important to their regions, with the Tees Valley now receiving a total of £75.5million under the scheme.
The Transforming Cities Fund was devolved to Mayoral regions in last year’s Autumn Budget, allowing Tees Valley Mayor Ben Houchen and the Combined Authority to radically improve public transport across our region.
The fund is allocated on a per capita basis, with the Tees Valley receiving £59million last year, and an additional £16.5million this year. While other cities and regions without a Mayor have to bid into the wider national fund, Metro Mayor areas do not.
Mayor Houchen said: “I’ve already committed £25million for the transformation of Darlington Station and £20million for the regeneration of Middlesbrough Station from this fund, and this extra announcement will help us go further and faster in delivering our transport and infrastructure priorities.
“It is great news for the region and once again shows that, thanks to having a directly-elected Mayor, the Tees Valley is a priority for the Government. And now we have £75.5million to invest, ensuring local people and businesses can get around the region, move goods and boost our economy.”
Cllr Stephen Harker, Combined Authority Cabinet Lead for Transport and leader of Darlington Borough Council, said: “We need to think big to help us to transform transport in the Tees Valley, and this announcement of extra funding is welcome news for the region. We’ll be working hard with transport bodies, partners and Government to secure all the help we can get to do even more for people travelling around our region.”
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