Hope Tay Cities Deal could be rubber stamped next month
An agreement to provided the multi hundred million pound funding over the next decade has now been reached
Work to agree a date to sign of the long awaited Tay Cities Deal is now underway.
We understand the multi hundred million pound project could be rubber stamped in the next weeks.
It's after the UK government agreed to fund its share over the next decade.
Dundee City Council Leader John Alexander said: "Whilst it's taken some time, we have to be positive about what this could do, in terms of recovery from covid as well.
"It's more important than ever that we deploy every single pound of investment to create jobs and sustain investment as we move forward over the coming months."
Dundee councillor Richard McCready is part of the Tay Cities Region committee, he believes companies are desperate to see the cash.
"Some of them have been champing at the bit to go, so I think it's important that we make sure the investment is available as soon as possible to those projects that are able to spend it soon and deliver jobs soon," he said.
The heads of terms for the deal were signed in November 2018, but disagreements over how many years the funding would be provided over has delayed the roll out of cash.
That hurdle now appears to have been cleared.
Chancellor of the Exchequer Rishi Sunak said: “This Spending Review will help people in every corner of Scotland.
“It will provide billions of pounds to fight coronavirus, deliver the peoples’ priorities and drive the UK’s recovery.
“The Treasury is, has been, and will always be the Treasury for the whole of the United Kingdom. And this is a Spending Review for the whole of the United Kingdom.”
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