It is already the fastest growing economy outside London, but today Bristol was told it will have an extra billion pounds over the next decade to promote economic growth.
The new city deal announced today should mean that forty thousand jobs are created over the next thirty years. Bristol will get its long awaited Metro scheme and an arena, and more training will be provided for over sixteens. Rebecca Broxton reports.
It's already the fastest growing economy outside London, but today Bristol was told it will have an extra billion pounds over the next decade to promote economic growth.
The priority will be to create jobs, but the new city deal announced today will mean that Bristol will get its long awaited Metro scheme. Control over transport budgets will be given to council leaders, who will no longer need to seek Whitehall approval for individual schemes.
Tim Kent is a councillor for Bristol City Council
Bristol found out today (Thursday 5 July) what new powers it has secured under the Government's 'City Deals' initiative. Danny Alexander, the Chief Secretary to the Treasury, announced a shift in power from London to Bristol, as well as a billion pound fund for the city to spend as it sees fit.
Bristol may finally get its long awaited Metro system. The announcement made today, which will see Bristol given more control over over how it spends its money, could mean a revitalised local railway network with stations re-opened and half-hourly services across the city launched.
Projects to unlock economic development sites are a priority, together with improved infrastructure.
Bristol is to be given more control over over how it spends its money. The Government has struck a deal with the city which allows it to retain cash from business rate growth to spend as it sees fit.
The announcement was made by the Chief Secretary to the Treasury Danny Alexander in the city a short while ago. The deal is designed to stimulate growth, by bringing jobs to the area.
Chief Secretary to the Treasury Danny Alexander is in Bristol today to make an important announcement about a shift of power and decision making from London to Bristol.
Bristol is one of six cities that will be freed from Whitehall control in a number of areas, in order to stimulate growth.