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21/08/2014

Further Funding Announced Under City Deal

An investment of £500m is to be made in infrastructure in Glasgow by the Scottish Government, it has confirmed.

Working alongside the eight local authorities in Glasgow and Clyde Valley, as well as the UK Treasury, the funding will bring the total infrastructure fund for the area to £1.13bn over the next 20 years.

The funding will target a number of areas such as enhancing transport infrastructure, unlocking new sites for housing and employment, and improving the area's public transport system.
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Since 2008, the Scottish Government has provided capital funding of £1.1bn to Glasgow City Council. A further £1.5bn has been invested in significant projects in the city, such as the new Southern General hospital, transport schemes and the Commonwealth Games.

Minister Mackay said: "As our largest city, Glasgow is central in driving economic growth. That is why the Scottish Government has agreed to invest £500 million in a city deal for Glasgow and the Clyde Valley that delivers significant benefits for the region and Scotland as a whole.

"Through the Scottish Cities Alliance we are exploring opportunities for all Scotland's cities. The funding will create jobs and help cement Glasgow's position as one of Europe's leading cities with a vibrant, thriving economy."

The City Deal is an agreement between the Scottish Government, UK Government and the eight Glasgow and Clyde Valley councils.

(JP/IT)

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