Chancellor uses Budget speech to throw weight behind ‘Team Derby’

Chancellor of the Exchequer Rachel Reeves has used her Budget speech to reaffirm the Government’s commitment to Derby.

In the speech last week, the Chancellor said she was “supporting Team Derby” – and efforts to create one of the UK’s defence industry hubs, spearheaded by Rolls-Royce.

In her Budget speech, the Chancellor said: “We are proud of our industrial heritage – and we are determined to build the industry of the future so that we buy, make and sell more here in Britain.

“That’s why as we increase defence spending, we are investing in Portsmouth, in Barrow and in Plymouth – and I am pleased to be supporting Team Derby, an initiative to drive growth in one of our defence industry hubs.”

Councillor Nadine Peatfield, leader of Derby City Council and cabinet member for city centre, strategy, regeneration and policy, said: “We’re thrilled that the Government has announced its support for Team Derby in November’s budget.

“Derby’s defence, transport and energy industries are critical to the UK’s future prosperity and national security.

“The Government’s support will enable Team Derby to advance a holistic transformation plan aligning national industrial investment with local regeneration, housing and skills.

“This is an opportunity to turn national investment into long-term regional prosperity, showcasing how place-based transformation can power Britain’s future industries. Together, we can ensure Derby powers Britain’s future.”

Derby has secured more than £2 billion through the Transport for City Regions programme and over £100 million via the Local Growth Fund in recent years.

These commitments sit alongside major strategic decisions such as establishing Great British Railways headquarters in Derby, and investment in the next generation of nuclear technology with Rolls-Royce.

During her speech, Ms Reeves highlighted the Government’s commitment to Derby, with the city primed to get a percentage of the £9 billion AUKUS defence and security partnership between Australia, the UK and the US.

The Chancellor’s Budget document sets out the Government’s focus for the region.

It states: “The Government is committed to the success of Derby and the wider East Midlands.

“The Government will build on this progress by backing the Team Derby initiative, working in partnership to maximise the ongoing government investment in Derby.”

The renewed commitment to the region has been welcomed by East Midlands Mayor Claire Ward, the figurehead of the East Midlands Combined County Authority (EMCCA).

She said: “Derby is stepping into a new era of growth, and this marks an important moment for our city and for the whole East Midlands.

“As the western anchor of the Trent Arc, Derby will help drive more than 40,000 new jobs across our region: in clean energy, nuclear engineering, advanced manufacturing, rail innovation and the wider supply chain.

“These are high-quality, highly skilled roles that will give local people real career opportunities for decades to come.

“With government backing for the Rolls-Royce nuclear cluster, the Investment Zone at Infinity Park, and the arrival of Great British Railways, Derby is in prime position to attract billions of pounds of new domestic and international investment.”

Baggy Shanker, MP for Derby South, said: “Derby is a proud city of makers and – through record investment by this government – it’s a city on the up.

“But after years of a Tory government that underestimated and underinvested in Derby, it is still a tale of two cities, where persistent inequalities mean too many communities haven’t fully felt the benefit of our industrial success.

“We’re working with the Chancellor and our East Midlands Mayor to make sure investment in our infrastructure and industry brings real, visible change for local people and regeneration for our city, so everyone can share in our city’s success.”

The Chancellor’s support has also been welcomed by stakeholders in Derby.

Professor Kathryn Mitchell, vice-chancellor and chief executive of the University of Derby, said: “We welcome the Budget announcement to support Team Derby – an ambitious initiative to drive growth in Derby as one of the UK’s key defence industry hubs.

“This investment demonstrates an alignment of ambition across industry, business, government and regional partners, all committed to securing long-term economic prosperity for the East Midlands and the UK.”