Chancellor George Osborne has backed plans for a ‘northern powerhouse’ with a package of funding to support Liverpool’s science and transport infrastructure.
Revealing a £34.4m transport investment as part of the Atlantic Gateway project, Osborne said the funding would build stronger connections between Liverpool and Manchester while creating 250,000 jobs by 2030.
The news came as a further £22.5m of Government funding was allocated for business growth in the North East, with particular focus on rural communities in the five years from 2015.
‘Our long term economic plan is about delivering jobs and growth across all parts of Britain, and three quarters of the net new private sector jobs created since 2010 have been outside London. But there is more we need to do,’ Osborne said.
‘Today I take the next step to build a northern powerhouse. I said we would back key infrastructure and science. Today I do that with £35m in transport upgrades for the Atlantic Gateway and a new University Enterprise Zone in Liverpool.’
The University of Liverpool and Liverpool John Moores University was named as one of four such growth hubs across the country, receiving £5m in Government match funding. Further zones were announced for Bradford, Bristol and Nottingham.
Provost Professor Stephen Holloway, who led the bid from the University of Liverpool, said: ‘Creating a new space where ideas from our sensor research laboratories can be transformed into new start-ups is a very exciting prospect for both Universities and provides great opportunities for our students and staff.’
