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JUNE BUDGET: Funding pledged to four regional transport schemes

The coalition Government has today committed itself to four regional transport projects in the North and the Midlands.

Announcing his emergency Budget earlier today, Chancellor George Osborne pledged funds to the Tyne and Wear Metro upgrade, the extension of the Manchester Metrolink, and the redevelopment of Birmingham New Street rail station despite money being “so short.”

Mr Osborne also committed to the improvement programmes for the rail lines to Sheffield and between Liverpool and Leeds.

The chancellor said that this was the first step as part of a “new approach” to regional development including a new Regional Growth Fund.

The Government will publish a white paper on how to improve the economic situations in all the regions later in the summer followed by a consultation paper on rebalancing the economy of Northern Ireland.