What do the announcements in today’s autumn statement mean for the East Midlands?
The East Midlands will receive £72 million to build over 4,000 new homes for affordable rent following the Chancellor’s autumn statement today, while Derby will become a “super-connected” city.
The region will also see £16.1m to return over 4,000 empty homes to use, £34m investment in a partnership between the University of Nottingham and GlaxoSmithKline, and a managed motorway pilot between Mansfield and Sheffield on the M1.
The main developments for the East Midlands are:
- 17,000 people to be lifted out of income tax and 1.8 million to pay less income tax as a result of Personal Allowance reforms.
- Cancelling the planned rise in fuel duty in January will reduce running costs for the 2.7 million vehicles in the East Midlands, saving a typical motorist £40 a year.
- £72 million to build over 4,000 new homes for affordable rent.
- £16.1 million to return over 1300 empty homes to use.
- Managed motorway pilot between the Mansfield and Sheffield on the M1.
- £34 million investment in partnership between University of Nottingham and GlaxoSmithKline.
- Government will provide a grant for councils that freeze council tax in 2013-14.
- Business support measures will benefit 325,000 small and medium enterprises in the East Midlands.
- A site near East Kettering may be eligible for Government funding to support large housing sites (more than 5000 homes).
- Starting soon: Loughborough Road Improvements – work starts early 2013
- Starting soon: London Road bridge, Derby – work starts 2013
- Under construction: Nottingham Tram Extension – opens to public in 2014
- Under construction: A43 Corby Link – due to complete in 2014
- New funding announced: Super-connected cities – Derby