Mark Pawsey MP has welcomed the announcement of additional funding to support businesses and infrastructure in Rugby and Bulkington, which will help to create jobs for the local area.
Coventry and Warwickshire Local Enterprise Partnership (CWLEP) has been allocated an additional £15.3m, bringing the total allocation of Growth Deal funding for the region to £89.4m. By devolving power and decisions from Whitehall, the Government are placing the people of Rugby and Bulkington in the driving seat as the local economy powers ahead thanks to the Government’s long term-economic plan.
Growth Deals bring together government funding for investment in infrastructure, housing, and other projects and put it in a single pot, which is placed in the hands of local authorities and businesses to invest – because they are best placed to know how to deliver local jobs and growth. As part of its long-term plan to build a stronger economy, across the country the Government has announced a further £1 billion of funding for Growth Deals, which comes in addition to £6 billion from the Local Growth fund announced in July last year.
Mark said:
‘This “£15.3b of extra funding is fantastic news for local people in Rugby and Bulkington. Thanks to the reforms made by the Conservative-led government, decisions on how this money is spent are being made by local people who are best placed to ensure it makes a real difference. Coventry and Warwickshire’s focus on Advanced Manufacturing and Engineering will help bring growth and prosperity to our area, as this is an area that Rugby can really develop.
Greg Clark MP, Business Minister commented:
‘For Britain to fulfil its potential every part of the country must be an engine of growth. ‘Our successful programme of City Deals and Growth Deals have put local people in the driving seat as the local economy powers ahead. This billion-pound expansion of Growth Deals fuels the momentum that is now underway in our local economies.’
Mark concluded:
‘This Growth Deal is a key part of our long-term economic plan to secure a better future for the hardworking people of Rugby and Bulkington. This additional funding will help local businesses create the jobs we need so more hardworking families can have the security of a regular pay packet, and will help equip our young people with the skills they need to get on in life.’