George Osborne promises £15 billion investment to make the north a “powerhouse”4 August 2014
George Osborne has announced plans to transform the North of England into an economic “powerhouse” with an investment of up to £15 billion.
The chancellor was speaking in Manchester where he met the leaders of Leeds, Liverpool, Manchester, Newcastle and Sheffield to discuss a new report calling for greater connectivity between them.
Mr Osbourne promised that the coalition’s autumn statement would include plans for major investment in the north, saying: “Individually the cities are great, but collectively they are weaker than the sum of their parts”.
“ Today I give you this personal commitment. Work with me over the coming months and together we’ll make reality of the plan we’ve set out for this northern powerhouse.
“I’m ready to commit new money, new infrastructure, new transport, new science – and real new civic power too. Today I’m setting out the pathway to this new powerhouse.”
The plan will form the “centrepiece” of his Autumn Statement later this year.