THE Coalition’s Mid term Review includes an assessment of what the Government has done for the regions, and what it still intends to do.
High among those achievements is establishing a £2.6bn Regional Growth Fund to support jobs and growth in the areas of the country most reliant on the public sector, supporting more than 500,000 jobs.
The fund has however been hit by severe delays in getting much of that money out into the economy.
Another policy with mixed success has been the creation of local enterprise partnerships. While the North East partnership has had a £25m Growing Places infrastructure fund to hand out it is still to live up to expectations.
Newcastle signed a city deal with the Government which lets it borrow more than £100m – but so far there has been no investment.
In the years to come the region can expect to benefit in the form of road investment, with the Mid Term Review repeating the Chancellor’s promise to invest in the A1 Western Bypass, below, and bringing the route from London to Newcastle up to motorway standard.
There is also another round of city deals lined up, with Sunderland one of those bidding for more powers. These though will only come to those working to create a new “combined authority”.