Growth deals provide funds from the Government of the United Kingdom to local enterprise partnerships, for projects that benefit the local area and economy. They are promoted by the Ministry of Housing, Communities and Local Government, Department for Business, Energy and Industrial Strategy, Cabinet Office, and Department for Transport. They are collaboratively funded by local government.
Regional growth deals in Scotland are administered by the Scottish Government. Whereas in Wales, they are administered by Corporate Joint Committees.
History
In 2020, a growth deal for North Wales was signed. They are also active in the Black Country. In March 2021, a £450 million Growth Deal for the Borderlands was signed; affecting border counties of Cumbria and Northumberland.
List +AreaCostArgyll and Bute£70 millionAyrshire£148.5 millionBorderlands£450 millionFalkirk£90 millionGreater Manchester£1 billionNorth Wales£240 millionMid Wales£110 millionScottish Islands£335 million
See also City Deal Regional economy in Wales Devolution in the United Kingdom Economy of the United Kingdom Levelling up policy of the Boris Johnson government Local government in the United Kingdom Localism Act 2011 Northern Powerhouse
References