UK government sets £1.7 billion plan to boost transport links
The Transforming Cities fund is designed to address weaknesses in city transport systems to spread prosperity by improving connectivity, reducing congestion and introducing new mobility services and technology.
Theresa May, Chancellor Philip Hammond and Business Secretary Greg Clark on Monday visited the West Midlands, where the combined authority has been allocated £250 million from the fund to spend on transport in the region.
Hammond is expected to announce further details on how the fund will be allocated in the Budget on Wednesday.
The ministers will also commit to working with industry to boost spending on research and development to 2.4% of GDP - the average level among developed countries in the OECD - by 2027.
Both announcements form part of the government's industrial strategy, with announcements in the Budget expected to pave the way for the plan to improve productivity and create higher-skilled jobs.
Hammond's set piece on Wednesday will be followed by the launch of the Industrial Strategy White Paper next Monday. ■