47881_Budget_2015_Web_Accessible

Figure 2: Investment across the United KingdomNORTHERN IRELAND■ Aiming to facilitate the rebalancing of theNorthern Ireland economy alongside theNorthern Ireland Executive■ Up to £350m of additional borrowingfor infrastructure projects, as part of theStormont House Agreement■ Legislation for devolution of corporation taxrate setting powers to the Northern IrelandAssemblySCOTLAND■ Strengthening the Scottish Government’s existing powersto deliver jobs and growth through greater tax and welfaredevolution, as part of the Smith Agreement■ Government to work with Scottish Government and localpartners towards City Deals for Aberdeen and Inverness,following the City Deal for Glasgow and the Clyde Valley■ Government will lower the tax burden on the oil and gasindustry, by introducing a new Investment Allowanceand reducing the headline rates of tax, to support furtherinvestment in the North SeaMIDLANDS■ £60m investment in a new Energy ResearchAccelerator, to develop the energy technologiesof the future■ New Energy Systems Catapult in Birmingham■ Extension of the MIRA Enterprise Zone inLeicestershire■ New Housing Zones at Bassetlaw, Gedling, WestLindsey, Derby and Stoke-on-Trent to deliver7,500 new homes■ New study into the challenges faced by someof the largest housing estates in the Midlands,to help frame future interventions and identifysuccessful approaches■ The North Northamptonshire authorities ofKettering, Corby and Wellingborough and EastNorthants will receive capacity funding to helpdeliver 16,700 homes■ Bringing forward £21.7m investment in thefl ood and coastal erosion programme, for46 schemes to be delivered early and 8 newschemes included■ Introducing a new exemption from the CarbonPrice Floor for combined heat and power plants:18 plants across the Midlands expected to benefi t■ High Speed Rail Investment Summit in BirminghamNORTHERN POWERHOUSE■ Publishing the interim report of Transport for the North, buildingon the HS3 concept to develop a network of high quality railconnections across the north■ Electrifi cation of the Hull to Selby line■ £20m to Health North: Centres in Newcastle, Liverpool,Manchester and Leeds-Sheffi eld■ £11m in Tech Hubs: Manchester, Leeds and Sheffi eld■ Funding to develop a fi nancial technology incubator in Leeds■ £14m for Advanced Wellbeing Research Centre in Sheffi eld■ £1m to the Centre for Process Innovation for the NorthEast’s chemical sector■ Funding towards the refurbishment of Muni Theatre in Pendle■ Welcoming talks to reinstate the ferry from Norway toNewcastle, with funding to market the North East for tourism■ Devolution deal with West Yorkshire CombinedAuthority: powers over skills, business support, transport,employment and housing■ Pilot scheme to enable Greater Manchester and CheshireEast to retain 100% of additional business rates growth■ Extending Enterprise Zones: Humber, Manchester, MerseyWaters, Tees Valley; amending the Leeds Zone; anddeveloping Zone in BlackpoolWALES■ Funding fl oor to protect Welshspending, in St David’s Daydevolution package■ Transferring additional powers overenergy, transport, the environmentand elections■ Work with Welsh government andlocal partners for Cardiff City Deal,following the successful roll-out ofCity Deals across England■ Abolishing Category 2 tolls (smallgoods vehicles and small buses) andincluding those vehicles in Category1, to reduce costs for businessesonce the Severn River Crossings arein public ownershipEAST OF ENGLAND■ Pilot scheme for Cambridgeshire andPeterborough to retain 100% of additionalgrowth in business rates■ £34m additional investment in Croxley rail linkextension■ £4m for development of plans for Wet DockCrossing in Ipswich and Lowestoft Third RiverCrossing■ £11.8m for Centre for Agricultural Informaticsand Sustainability Metrics in Harpenden,Hertfordshire■ Bringing forward an additional £16.8minvestment in fl ood defences over the nextfour yearsSOUTH WEST■ Shortly setting out details of new franchise forGreat Western Route: new Intercity Express trains,more frequent services and faster journey times■ Abolishing Category 2 tolls (small goods vehiclesand small buses) and including those vehicles inCategory 1, to reduce costs for businesses oncethe Severn River Crossings are in public ownership■ Supporting the creation of a new Enterprise Zoneon the south Naval Dockyard site in Plymouth■ New study into the possibility of reopeningPlymouth airport■ New Housing Zones at South Bristol, Hinkley,Poole, Weston-super-Mare, Ashchurch, Gloucesterand Foxhill to deliver 11,000 new homes■ Investing £2bn in roads, including upgrade toA303, tunnel under Stonehenge, and A30 dualledto CamborneLONDON■ £97m support for the regeneration of BrentCross, to unlock 7,500 homes and support27,000 jobs■ £1m for London Land Commission to create acomprehensive database of public sector andbrownfi eld land■ £7m to GLA to support the development ofthe Croydon Growth Zone, to unlock over4,000 homes and more than 10,000 jobs■ Reinvesting up to £30m from the sale ofMedical Research Council assets to supportresearch at the Francis Crick Institute■ Devolving further powers over planning andskills to the Mayor of LondonSOUTH EAST■ Driving forward development of new gardencity at Ebbsfl eet, announcing the Boardmembers for the UDC■ Capacity funding to support the ambition todevelop a new garden town at Bicester■ Extending Oxford Science Vale Enterprise Zone■ Supporting extension of Discovery ParkEnterprise Zone■ Bringing forward £41m investment infl ood defences, for 40 fl ood schemes to bedelivered early and ten new schemes to beincluded in the fl ood and coastal erosionprogrammeBudget 201545