The leaders of the Cardiff Capital Region City Deal have welcomed an ‘extremely positive’ meeting with the First Minister of Wales today (July 25).
At the meeting, the First Minister gave positive support for the funding of the City Deal, and in particular the Metro which the Welsh Government has already committed to help fund.
Cllr Andrew Morgan, Leader Rhondda Cynon Taff, and Chair of the City Deal Joint Cabinet of the 10 local authorities in the region, said: “This was an extremely positive meeting, and we welcome the continued support given by the First Minister.
“It is imperative that the joint Cabinet work with the UK and Welsh Governments to ensure that such a critical programme of investment in the region happens, and we welcome the commitment from the First Minister to have an agreed City Deal programme in place by early next year.”
First Minister, Carwyn Jones said:
“This was a good a meeting, where leaders demonstrated the progress being made towards a City Deal that will deliver for the communities of the region. It is imperative that we keep up the momentum of important economic developments given the uncertainty caused by Brexit. We remain committed to the Metro, and look forward to confirmation from the UK Government that they will fund the difference when it comes to the element of ‘lost’ EU funding for the project.”
Over its lifetime, it is estimated that the City Deal could deliver as many as 25,000 new jobs and £4 billion of private sector investment across the region in addition to the £1.221B public sector funding.
The City Deal will help boost economic growth by improving transport links, increasing skills, helping people into work and giving businesses the support they need to grow.
Initiatives already launched as part of the City Deal include a Cardiff Capital Growth and Competitiveness Commission.
The appointed commissioners are taking expert argument that has been devised by both Cardiff University and the Centre for Cities, and the Commission will make its independent recommendations for the future economic strategy for the region in the autumn.