City Deal cash is unlocked after review
CITY Deal projects are hoped to give the Glasgow economy a much needed boost after the coronavirus lockdown.
A tranche of funding, worth £250million from the £1.1billion total, has been released after the first of three Gateway Reviews, to take place over the 20 years of the deal, was passed unlocking the cash.
If the City Deal meets agreed outputs and outcomes at each five-year review, the full £1bn of funding from the UK and Scottish Governments will be unlocked.
Since the deal was signed in 2014, with the UK and Scottish Governments investing half a billion pounds each, £216m has been spent and businesses in the eight west of Scotland council areas have benefited from £79m worth of contracts.
Projects that have been completed, or are under way, include improvements to the Forth and Clyde Canal and the £18 million pedestrian and cycle bridge at Sighthill.
Part of the programme in the next five years includes a feasibility study on proposals for a Glasgow metro system.
It would see a tram network, the first phase from Glasgow Airport to Paisley Gilmour Street and then along the south bank of the Clyde via Braehead and the Queen Elizabeth Hospital.
Susan Aitken, Chair of the Glasgow City Region Cabinet and Leader of Glasgow City Council said: “Communities have really started to see the delivery of the City Deal’s promise and its clear transformational effect and the next five years have always been about driving forward that investment and projects on the ground.
“As we plan for our reemergence from the greatest crisis in generations, it’s crucial we accelerate activity on the things we already know we need to build a city region economy, one which delivers for all people and a sustainable future.”