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<p>In the Budget, the Chancellor of the Exchequer announced £337m for a new Nexus
Metro fleet and depot for the Tyne and Wear Metro. The Metro is a critical part of
both local transport provision and the wider economy in the region, and this investment,
which will be direct and not via private finance, will be a vital boost to the area,
supporting access to employment, education and leisure. To achieve this result, the
Department worked closely with local leaders and with HM Treasury.</p>
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