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Local borrowing and appraisal overhaul needed to fill northern England's funding gap - think-tank

Lee Baker
22 February 2017

The Northern Powerhouse strategy needs to be backed by greater investment secured through more local borrowing and appraisal of the wider economic benefits of schemes, a think-tank said.

The IPPR North said that with his first autumn statement the Chancellor continued a situation where over half of all transport infrastructure spending in the U.K will continue to take place in London, even while ministers said they would seek greater equality in transport funding per head.

So it said it was "critical" that the Government both re-dresses the balance through Whitehall funding, but also allows extra local borrowing and bonds, and levers in greater funding and financing by producing a 'northern infrastructure prospectus' and overhauling the Treasury Green Book so that current transport demand is less of a priority.

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