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<p>The Government is committed to providing high quality infrastructure to support
economic growth and prosperity across all regions of the UK. We will ensure our infrastructure
investments actively support our long-term productivity, providing greater certainty
and clear strategic direction.</p><p>The Transforming Cities Fund will provide £1.7bn
to drive productivity by improving connectivity, reducing congestion and utilising
new mobility services and technology, transform local productivity in city-regions.</p><p>We
have already seen investment for projects for the North East that include:</p><ul><li>increasing
national research and development spending to 2.4 per cent, boosting the North East’s
strength in research and innovation</li><li>815,000 people living and working in the
North of Tyne will benefit from an ambitious devolution deal agreed between the government
and the North of Tyne authorities. This includes a new £600 million long-term investment
fund over the next thirty years to be spent on local priorities, such as skills and
employment, adult education, and rural productivity.</li><li>a £337 million investment
to support a transformative modernisation programme to replace the Tyne & Wear
Metro system’s 40-year old trains with a brand-new fleet. This will help to ensure
that the Metro system is reliable, runs efficiently, and helps local people get to
where they need to be.</li><li>the Tees Valley Combined Authority will receive £59
million from a new £1.7 billion Cities Transformation Fund. Funding will be invested
in transport projects which drive productivity by improving connectivity and reducing
congestion.</li><li>as announced at Budget, the government is investing £123 million
to support the safe development of the Redcar steelworks site in the Tees Valley.
Mayor Ben Houchen will set up a Mayoral Development Corporation and use this funding
to drive forward an ambitious programme of regeneration for the area.</li><li>The
North East has already benefitted from Industrial Strategy funding when the International
Centre for Life in Newcastle benefitted from a £13 million funding pot aimed at encouraging
more of the public to engage with STEM (science, technology, engineering and maths)
learning. The money will enable the centre to reinvigorate its visitor experience
and develop new STEM learning activities.</li></ul>
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