The East Midlands will benefit from investment in transport, business and technology, as the Chancellor set out his plan to reward the hard work of the British People.
This year’s Budget provides a comprehensive plan to support the national health service, our high streets, and ensure working people have more money in their pockets.
Today’s announcements for the East Midlands region include:
- Investing an additional £13 million across the country to improve access to flood information, helping to reduce damage to homes and lives. This includes an expansion to the flood warning system, protecting an additional 2,800 at-risk properties across the East Midlands.
- We are refreshing the Midlands Engine Strategy so that we create more well-paid jobs across the region. This build on the success of the existing strategy in addressing barriers to productivity so that more people in the East Midlands can get on in life.
- Investing up to £70 million to construct the national element of the Defence and National Rehabilitation Centre near Loughborough, to provide world leading care and to help it become an internationally recognised rehabilitation facility. This will provide care for up to 800 civilians a year to aid their recovery from debilitating injuries and help them return to leading full and active lives.
- Investing £770 million into the national Transforming Cities Fund to improve productivity and spread prosperity across the region. Derby and Nottingham, and Leicester have been shortlisted for a share of the £440m increase to the competitive allocation of the Transforming Cities Fund.
Commenting, Sir Edward Leigh MP said:
“The Chancellor has set out how the hard work of the British people is paying off; our careful fiscal management and solid economic recovery means that austerity is coming to an end.
“We have seen a significant improvement to our public finances, underscoring the strength of the economic recover.
“I welcome the announcement that the Royal Mint will be producing a new design of fifty-pence piece which will celebrate our departure from the European Union. Perhaps more importantly is the support offered through business rate relief on high street businesses which is worth up to £8,000 a year.
“Now we turn our eyes to the future, meaning more support for our public services, help for household budgets now, and investment for the long-term to deliver higher living standards as our economy grows.”
The Chancellor of the Exchequer, Rt. Hon. Philip Hammond MP, visited Gainsborough-based Eminox Ltd. to explain how the budget would help families and businesses across the country.