Liverpool welcomes City Deal
Liverpool has been formally offered a ‘City Deal’ by the Government.
The deal will give the city substantial new powers such as the control of resources to encourage investment and growth.
The change in governance arrangements would offer the Government the clear accountability and influence required to justify the devolution of the new powers.
The deal will create a single investment fund of new and existing public and private money, initially worth £130m, but with the potential to grow to £500m – £1bn.
Having a single pot of money, which includes £75m of new government funding, gives the council direct control over the use of resources and reduces red tape relating to economic development in the city.
Council Leader Joe Anderson said: “The deal is bespoke to us. It gives us direct control over our destiny and brings with it new investment in the future of Liverpool and the people of Liverpool.”
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