Local authority leaders in Cardiff are calling on the UK Government to contribute £580m of funding as part of its City Deal bid.
The bid for the Cardiff Capital Region (CCR) has been finalised and will be presented to UK and Welsh government ministers and officials in the coming weeks.
The Welsh government has agreed to contribute £580m to support the establishment of a Cardiff Capital Region Fund, and the ten council leaders behind the CCR city deal bid are pressing the UK Government to match with £580m of UK funding.
The intention of the bid is to transform the local economy to improve local productivity, create new jobs and reduce worklessness.
Cllr Andrew Morgan, leader of Rhondda Cynon Taf County Borough Council, and chair of the Cardiff Capital Region City Deal Leaders Group, said:
‘These local authorities have come together to develop an exciting and innovative £1.28bn City Deal bid, which we strongly believe will bring about transformational improvements in infrastructure, regeneration, connectivity, skills and economic performance in South-East Wales.’
He continued: ‘We are optimistic that the Chancellor will sign off on our bid next month (March) but we today call on the UK Government to match the £580million already pledged.
‘We need that money to make the improvements we all want to achieve in the Cardiff Capital Region economy.’