People living and working across the South West will benefit from today’s Budget as the Conservatives deliver on the promises made to the British people, investing in infrastructure, the NHS and public services across the region.
The plans outlined by Chancellor of the Exchequer, Rishi Sunak, will get things done and provide security for now while laying the foundation for prosperity in the future.
The Budget marks the start of record level of investment in the people’s priorities - infrastructure, the NHS and public services – to ensure the promises in the General Election in December are kept and the potential of every part of the United Kingdom, including the South West, is unleashed.
Increases in the National Insurance threshold and the National Living Wage announced today will mean families keep more of the money they earn, while tens of millions of pounds of investment in the region’s roads, rail, housing, broadband and flood defences will ensure everyone can have the same chances and opportunities in life wherever they live.
Thanks to the measures taken today, someone working full-time on the minimum wage in the South West will be over £5,200 better off compared to ten years ago when the Conservatives’ came into office.
MP for North Devon, Selaine Saxby, said today’s Budget proves this Government ‘will get things done’ for families and communities across her constituency.
Today’s announcements for the South West include:
- Creating a £4.2 billion Local Public Transport Fund for combined authority areas to dramatically improve bus and train services in their areas. We will grant £4.2 billion devolved capital funding to the eight combined authority areas, allowing their elected leaders to invest in dramatically improving local train and bus services. Starting in 2022-23, we will provide a settlement for the West of England from this fund and build on their existing devolved Transforming Cities Fund allocation.
- Developing new strategic road schemes and upgrades in the South West. We will develop new road schemes, including the A303 Stonehenge, A417 Air Balloon and a Severn Resilience package around Bristol. We are also developing major road upgrades, including the A350 – M4 Junction 17 in Wiltshire, the A39 Atlantic Highway in Cornwall, A38 Walton Ashcott Bypass in Somerset and the M5 Junction 9 and A46 in Gloucestershire.
- Investing in infrastructure to improve cycling and walking. We are providing £51 million for Plymouth, including £35 million for a new Central Park cycling and walking bridge, and £79 million for Bournemouth, Christchurch and Poole, including funding for four cycle freeways.
- Ensuring the South West receives its share of funding for flood and coastal defences. The following locations will benefit from at least the following levels of funding: £114 million for Bridgwater, £34 million for Poole, and £1.4 million for Gloucester to better protect over 7,000 properties.
- Providing £88 million of additional funding for local road maintenance through the Potholes Fund in 2020-21.
- Providing funding from the Housing Infrastructure Fund to unlock new homes in the region. We will provide £219 million for the M5 J10 improvements scheme in Cheltenham to unlock up to 8,967 homes.
Commenting, Selaine said:
“Last year’s election gave a clear verdict. Now the people’s Government is delivering a Budget which delivers on our promises to the British people – it is a Budget of a government that gets things done.
“Investment will reach record levels over the next five years, as the Conservatives commit to levelling up across the country – benefitting families and businesses in all corners of the country including North Devon
“I am delighted that there is so much investment for green initiatives, such as restoring woodlands and speeding up the rollout of a fast charging network for electric vehicles. I also welcome the measures which will support communities and businesses across North Devon, like the business rates relief for small and medium size businesses, the £3000 grant for small companies and the freeze in beer and spirts tax.
“These steps, combined with the extra £2.5 billion to fix potholes, the freeze in fuel duty, the red diesel tax exemption for agriculture and the investment in the A303 and A39 show this Government is following through with its levelling up agenda.
“This is the first Budget delivered outside of the EU for more than five decades. It sets out a clear, one nation, path for the Government to get things done, and importantly recognises the needs of the Great South West.”