£1.2bn Cardiff City Deal to go ahead despite Brexit threat
Friday July 29th, 2016
The Government has reaffirmed its commitment to its £1.2bn city deal with Cardiff in the face of uncertainty created by the Brexit vote.
The agreement, signed last March with the Cardiff Capital Region (CCR), includes £106m of EU funding and is expected to create 25,000 jobs and attract £4bn worth of private sector investment.
The result of the EU referendum brought the deal into question , but the secretary of state for Wales, Alun Cairns MP, has met with the leaders of the CCR and confirmed the deal is still in place.
The deal has been described as a ‘genuine partnership’ between the UK Government, Welsh Government and 10 local authorities in South Wales to achieve.
Mr Cairns said:
“Following the meeting, I have reaffirmed my support and commitment to the project, and work with all the partners to maximise the positive outcomes of a landmark City Deal.
The City Deal, post Brexit, can continue to provide the springboard for Cardiff to emerge as a leading engine of growth in the UK.”
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