Scotland is set to benefit from new funding for a Borderlands growth deal the Chancellor announced in the Spring Statement.
Five local authorities from north and south of the border have worked in partnership with the UK Government on the ambitious Borderlands Deal that will deliver wide-ranging benefits throughout the region.
The funding levels for specific projects will be confirmed later this year and is expected to focus on energy projects, improving transport links, rural productivity and tourism across the region - boosting jobs, creating opportunity and encouraging further inward investment.
Up to £260 million for a Borderlands Growth Deal covers the border regions of England and Scotland. This includes £65 million new funding from the UK Government for the Scottish areas of the deal, the Scottish Borders, Dumfries and Galloway. This is in addition to the £102 million recently announced from the Housing Infrastructure Fund for Carlisle, giving a total of £362 million of UK Government funding to the Borderlands area.
Scottish Secretary, David Mundell said:
The announcement of £362 million UK Government funding for the Borderlands is absolutely fantastic news for the region.
This exciting deal will boost economic growth by helping existing business, encouraging new ventures and bringing a wealth of improvements to people who live and work in the area and to visitors.
It is an ambitious approach to cross-border working between Governments, local authorities and partners and I’m confident that together we can create jobs and opportunity and bring investment.
This new funding from the UK Government brings our investment in growth deals in Scotland to more than £1.35 billion, and shows our huge commitment to growing Scotland’s economy.