12 Aug 2022

Chancellor of the Exchequer invites City Deal bid for Derry that could boost economic growth

The Chancellor of the Exchequer, Philip Hammond, has invited a City Deal bid from Derry that will 'give local councils, universities and businesses the chance to submit plans to government' to boost economic growth. These proposals would be with a view on 'driving forward economic growth and boosting productivity for the benefit of the Derry-Londonderry city region and the whole of Northern Ireland'. SDLP Leader Colum Eastwood MLA has said he is delighted with the invite to bid for the Derry City Deal. The MLA for Foyle said: "The SDLP has led this campaign for a City Deal for Derry and we are delighted to see it progress to the next step to see the bid come to fruition. "The benefits stemming from a substantial economic intervention in the North West cannot be overstated. Both Derry and Strabane have waited a long time to receive the investment it deserves to reach its full potential. "A city deal for Derry will go a long way to progressing our rail networks, building new road infrastructure, developing the Ulster University Magee Campus and increasing the overall productivity of the North West. "The SDLP will engage with all local partners across the community to ensure the bid is accepted by the treasury and investment is made in the correct places." Sinn Féin MP Elisha McCallion has welcomes today’s announcement which enables the north west to bid for a City Deal. The Foyle MP said: "Until today the British Government has resisted giving a formal commitment to a City Deal for the north west. "Today’s breakthrough is a result of the pressure placed on the British government by Sinn Féin and key stakeholders. It means that a City Deal for the north west can now be progressed. "A City Deal can help fund the Strategic Growth Plan produced by and for the people of the north west. "We can now formally submit our ambitious plans for an inclusive growth in the region and begin negotiations on their funding. "It is important to build on today's good news and ensure that the Belfast and north west City Deals proceed in tandem."

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