March 17 2014 Latest news:
Thursday, December 12, 2013
Deputy Prime Minister Nick Clegg has given his backing to a billion pound deal for Greater Cambridge.
Mr Clegg signed his name to an agreement to help bring The Deal forward, a scheme which aims to unlock a billion pounds of additional funding for investment in transport infrastructure and homes to support economic and housing growth over the coming decades.
The minister was visiting Cambridge to meet partners who put together the City Deal and sign a Memorandum of Understanding.
This is the first formal step in delivering the deal, which would mean a portion of the tax generated in the area from growth would be kept locally.
In addition to funding for transport and affordable housing, the deal would see the three councils (County, Cambridge City and South Cambridgeshire District Councils) pooling some of their funding and powers and working more closely as a “combined authority”.
Cambridgeshire County Council Leader Martin Curtis, said: “This is good news not only for Greater Cambridge but the whole of the county.
“The ripple effect of this deal means that the whole of Cambridgeshire will benefit. This is truly a partnership arrangement and it was good to see the Government, in the form of the Deputy Prime Minister put their name to it.”