Mark Whitehead 01 July 2016

Edinburgh approves plans for city region deal

Edinburgh City Council has approved a report on a regional deal it says could attract £5bn of private sector investment.

The Edinburgh and the South East of Scotland City Region Deal is currently being discussed with the UK and Scottish governments.

It is designed to accelerate growth in Scotland’s capital city and wider region to benefit the Scottish and UK economies while tackling deprivation and inequality.

Councillors agreed in principle that the City of Edinburgh Council will contribute £100m towards the £2bn deal.

The other bid partners - East Lothian, Fife, Midlothian, Scottish Borders and West Lothian Councils - will also consider the report and decide on their contributions.

The proposals are based on four interconnected programmes: innovation 'hubs', infrastructure investment, regional housing and cultural tourism investment.

Edinburgh council leader Andrew Burns said: 'A deal on this scale cannot be delivered by the public sector alone and private sector involvement is going to be key as we drive this forward.

'The deal will also give the region greater autonomy on determining investment priorities and will help to identify and deliver appropriate solutions to local issues and opportunities.'

#City Deals #Economic growth

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