Budget 2016: Key points for West of England

March 18, 2016
By

Chancellor George Osborne’s Budget included a number of important measures for the South West, including

  • New mayoral devolution deal for the West of England (Bath & North East Somerset, Bristol, South Gloucestershire and North Somerset), giving it “significant” new powers over improved transport, planning, skills and employment.
  • This area will also receive control of a £900m investment fund over 30 years to boost economic growth
  • £3m to improve rail stations across the South West
  • £16m Exceptional Regional Growth Fund (ERGF) payment to Dyson for battery research in Malmesbury
  • £8m during 2016-17 to fill around 159,000 potholes across region
  • £14.5m in grants to extend ultrafast broadband coverage in the South West. The National Infrastructure Commission will use the South West as a case study on how the UK can become a world leader in 5G
  • £620,000 to Being Brunel: the National Brunel Project – a unique public museum and visitor experience dedicated to Isambard Kingdom Brunel being  developed in buildings alongside the ss Great Britain
  • £500,000 to fund a study into a new junction 18a on the M4 to link with the A4174 Avon Ring Road
  • £19m funding for community-led housing schemes in areas most impacted by holiday homes, using Stamp Duty Land Tax revenue raised from the higher rates for purchases of additional properties.

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