Spending Review backs Mayor with investment in jobs, homes, transport and growth

Mayor Richard Parker’s mission to deliver new jobs, homes, economic growth and better transport for the West Midlands was today (Wednesday June 11) backed by Chancellor Rachel Reeves in her Spending Review.

The review includes funding for:

• The Mayor to provide loans that drive economic growth
• Skills training to help people secure work
• More social and affordable housing
• The further development of Midlands Rail Hub to improve local and national services

Today’s Spending Review also included the £2.4bn announced by the Chancellor last week for new transport infrastructure across the West Midlands, including a new Metro tram route to Birmingham’s exciting Sports Quarter regeneration scheme.

Welcoming the announcements, the Mayor said the Spending Review was a vote of confidence by the Chancellor in his four key priorities – Jobs for Everyone – Homes for Everyone - Growth for Everyone and Journeys for Everyone.

The Spending Review includes money for the Mayor to provide loans that drive economic growth and funding for more social and affordable housing

The Chancellor’s announcement was also a personal win for the Mayor who had lobbied Government for extra funding for social and affordable housing and for getting people back into the workplace through skills training.

Richard Parker, Mayor of the West Midlands, said: “This Spending Review backs our ambition to rebuild the West Midlands and unlock opportunity in every community. It’s a vote of confidence in our plan and a moment to invest in our renewal.

“From the biggest boost to social housing in a generation, to billions for new transport links like the Midlands Rail Hub and the East Birmingham Metro extension, the Government is delivering the long-term investment we need to grow our economy and improve people’s lives.

“With new money for apprenticeships and skills, this is a plan for better jobs and a stronger, greener future. Billions in funding for research and development will turbocharge the vital work our businesses and universities are doing in world-leading innovation. With help to cut the cost of school uniforms, expand free school meals and upgrade homes to lower bills, it’s a plan for fairness too.

“I welcome investments in automotive, life sciences, digital and aerospace - and a new local growth fund for Mayors. Because business and industry is vital to our region's growth, these sectors are our strengths and we know that when the West Midlands grows, Britain grows too.

“Our defence spending will rise, our security strengthened, our public services will be backed and some of the most deprived communities in our country - including right here in the West Midlands - will get the support they’ve long deserved.

“This is what rebuilding Britain looks like. The West Midlands is ready to lead the way.”

Today’s announcement by the Chancellor includes funding for skills training and an extension to the region’s Youth Guarantee Trailblazer which helps young people who are not in education, employment or training to get into work.

The region will also benefit from a share of a £39bn funding pot to drive the construction of more social and affordable housing over the next ten years.

The Spending Review also confirmed funding for the next stage of the planning and development for the Midlands Rail Hub. The scheme would dramatically increase rail capacity into Birmingham and provide a step-change in connectivity across the wider region, driving economic growth and thousands of new homes and jobs.

The Mayor launched his four key priorities last summer following a series of meetings with new Government figures and regional leaders.

The four priorities are:

Jobs for everyone – investing in jobs, skills, training and apprenticeships and reducing youth unemployment and ensuring everyone has a job that pays well.

Homes for everyone – building social and affordable homes and creating vibrant communities so that everyone will have a place to call home.

Growth for everyone- helping businesses grow, supporting innovation and creativity and making sure everyone benefits and the environment is protected.

Journeys for everyone – connecting communities and making travel easier, safer and more affordable for everyone