The Glasgow and Clyde Valley City Deal is an agreement between the UK government, the Scottish government and the 8 local authorities across Glasgow and Clyde Valley. It sets out how the region will create economic growth through:
setting up a £1.13 billion Glasgow and Clyde Valley Infrastructure Fund to improve transport and regenerate/develop sites
supporting growth in the life sciences sector
helping small and medium enterprises to grow and develop
setting up programmes to support unemployed people
testing new ways of boosting the incomes of people on low wages
The deal was signed on 20 August 2014 by Danny Alexander, Chief Secretary to the Treasury, Greg Clark, Minister for Cities, local council leaders and the Scottish government.
The Heads of Terms Agreement for the Glasgow and Clyde Valley City Deal was announced on 4 July and guarantees the UK government’s contribution to the deal.