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<p>In the Budget, the Chancellor of the Exchequer announced £337m direct grant funding
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 will be a vital boost to the area, supporting access to employment,
education and leisure.</p><p> </p><p>To achieve this result, the Department worked
closely with HM Treasury. The committed funding is in response to a business case
from the North East Combined Authority. Nexus will manage procurement, delivery and
rollout of the new fleet of trains and will report progress to the joint DfT-Nexus
programme board throughout this process.</p><p> </p>
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