Cameron and Osborne Set Out Economic Plan for the Midlands

Prime Minister David Cameron and Chancellor George Osbourne delivering the news last week at Bombardier.

Prime Minister David Cameron and Chancellor George Osbourne delivering the news last week at Bombardier.

Chancellor George Osbourne has outlined a six-point plan to boost the long-term economy of the Midlands raising the region's average growth from 3.7% to 4.2%, the UK's average.

Our ambition is to make the Midlands an engine for growth. We’ve made a good start - with growth, jobs and productivity rising faster here than the UK average. Now we need to sustain this progress.
— Chancellor George Osbourne

The plan is focused around a £5.2 billion investment into a national transport network centred in the region.

The government said it would commit £5.2 billion to create a modern transport network, with sums expected to be allocated to road and rail projects across the region. Plans are also in place to create a combined local authority in the Midlands, similar to Greater Manchester and West Yorkshire.

My condition is that I want to see the different areas combine together to produce a strong joint plan. The same employers and supply chains work together seamlessly across this part of the country, so local leaders need to do the same.
— Chancellor George Osbourne.