‘Team Derby’ partnership to receive £10m boost from Chancellor

A partnership between Derby and the Government to maximise investment in the city is set to receive a £10 million boost.

During her Autumn Budget statement last year, Chancellor the Exchequer Rachel Reeves declared she was backing ‘Team Derby’ – and efforts to create one of the UK’s defence industry hubs, spearheaded by Rolls-Royce.

Last week, during her Mais lecture, in which she set out her growth plan for the UK going forward, the Chancellor confirmed that Team Derby would receive £10 million.

Team Derby is a partnership chaired by Mayor of the East Midlands and East Midlands Combined County Authority figurehead Claire Ward, which brings together local, regional and central government, industry and academia – to accelerate growth in Derby by building on the region’s key strengths, such as defence and rail.

Mayor Claire said: “The Chancellor’s Mais lecture shows that this is a government that understands devolution and prosperity go hand in hand.

“Team Derby is this principle put into practice – £10 million extra investment to ensure that the people of Derby benefit from its strong economy and boundless opportunities.”

Councillor Nadine Peatfield, leader of Derby City Council, said: “We welcome the Chancellor’s new growth plan and support for Team Derby, a partnership bringing together local government, industry and academia to accelerate growth.

“Looking forward, this £10 million investment opens the door to a brighter future for our young people.

“Derby will be a city of opportunity where they can stay and build a career in increasingly important industries that are concentrated here.

“This investment is a big vote of confidence in Derby. We are committed to ensuring every resident feels the benefits.”

During her Mais lecture, the Chancellor set out how the Government plans to build “a stronger and more secure economy in an uncertain world”, dubbed “Securinomics”.

It has identified a closer UK‑EU relationship, a step change in AI and unlocking growth in every UK region and nation as the three biggest opportunities for growth.

The investment in Team Derby is part of this strategy. In her speech, the Chancellor set out how the Government intends to move away from a model where growth is concentrated in a few places to one that unlocks growth in every part of Britain.

She said the Government is prioritising investment in the Industrial Strategy’s growth driving sectors where places already have strengths- and devolving more power and long-term funding to local leaders who know their areas best.

Nadine added: “This new plan puts our city at the heart of the UK’s future. This goes beyond industry; it’s about bringing real, visible change to our communities.

“For Derby, this means more and better jobs, strengthening our world-leading aerospace and rail sectors and securing thousands of local livelihoods.

“When our big industries thrive, the benefits ripple out, with more people spending in our local shops, cafes, and businesses.

“Thanks to the focus on #TeamDerby, international investment will be reflected in investment in the city centre experience, so that every resident will feel the benefit.”

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.

Baggy Shanker, MP for Derby South, said: “I’m over the moon that the Chancellor has announced £10 million to kickstart Team Derby.

“We set up Team Derby to make sure major government investment in our city’s industries translates into something people can actually see and feel in the places they live.

“More jobs, more opportunities for young people and real, visible change on our high streets and in our communities. That is what this is about.”

Catherine Atkinson, MP for Derby North, said: “This is more backing for our plan to make sure major government investment in Derby brings more jobs, more opportunities for young people and visible change on our high streets and in our communities.”