Budget 2012: Chancellor Signals Green Light for City Growth, Says KPMG
Richard Threlfall, head of infrastructure, building and construction at KPMG, said:
“Infrastructure remained at the top of the political agenda today, earning mention by the Chancellor in the first minute of his budget statement.
“The big news however was the deal with Manchester. Under the agreement with the Treasury as the Manchester economy grows and generates additional taxes a proportion of these taxes can be used on local Manchester transport projects.
“The city will reclaim £30 million a year from the Treasury and reinvest it in further infrastructure development, which could include new roads or light rail extensions. Manchester is the first city to secure such a deal and we can confidently predict the UK’s other major cities rapidly forming a queue at the Treasury’s door.”