£1 billion fund for Glasgow and Clyde Valley
Twenty year economic growth plan.
The Scottish Government will invest £500 million in infrastructure in Glasgow, Local Government and Planning Minister Derek Mackay announced today.
Working in partnership with the eight Glasgow and Clyde Valley councils and the UK Treasury, the Scottish Government investment brings the total infrastructure fund for the area to £1.13 billion over the next 20 years.
The City Deal is an agreement between the Scottish Government, UK Government and the eight Glasgow and Clyde Valley councils.
Funding will be targeted towards enhancing transport infrastructure, unlocking new sites for housing and employment and improving the city’s public transport system.
The Scottish Government has provided capital funding of £1.1 billion to Glasgow City Council since 2008.
In addition, £1.5 billion has been invested in major Glasgow projects including the new Southern General hospital, transport schemes and the Commonwealth Games.
Mr Mackay said:
“As our largest city Glasgow is central in driving economic growth.
“That is why the Scottish Government has agreed to invest £500 million in a city deal for Glasgow and the Clyde Valley that delivers significant benefits for the region and Scotland as a whole. Through the Scottish Cities Alliance we are exploring opportunities for all Scotland’s cities.
“The funding will create jobs and help cement Glasgow’s position as one of Europe’s leading cities with a vibrant, thriving economy.
“We have also provided capital funding of £1.1 billion to Glasgow City Council since 2008 and in addition, we have invested £1.5 billion in the Commonwealth Games, the new Southern General hospital, Fastlink and the Glasgow Subway improvements.
“While we are doing all we can to stimulate the economy in our cities and their regions, to make real, lasting change we require the full range of economic levers other countries in Europe take for granted.
“Only independence will provide the powers to grow the working population, increase productivity, boost exports and innovation and reindustrialise Scotland’s economy.”
The eight Glasgow and Clyde Valley councils are:
East Dunbartonshire Council, East Renfrewshire Council, Glasgow City Council, Inverclyde Council, North Lanarkshire Council, Renfrewshire Council, South Lanarkshire Council and West Dunbartonshire Council.