Nick Hill

Chancellor Philip Hammond announces £400m boost for transport in the north

Chancellor Philip Hammond is set to allocate an extra £400m of funding for road and rail improvements, in a speech at the Conservative party conference.

The Chancellor is set to pledge £300m to improve connections between cities in the north that are not directly on the HS2 high speed rail line.

This new funding is aimed at cutting journey times across cities such as Liverpool, Manchester, Sheffield, Leeds and York.

An additional £100m is also being announced to improve 33 road schemes - 10 in Yorkshire and Humber, 10 in the North East and 13 in the North West.

During his speech in Manchester on Monday, The Chancellor is expected to say: “Our economy is not broken: it is fundamentally strong.

“And while no one suggests a market economy is perfect, it is the best system yet designed for making people steadily better off over time and underpinning strong and sustainable public services for everyone.

“As this model comes under renewed assault, we must not be afraid to defend it. The market economy frees people and businesses, encourages them to create, take risks, give ideas a go because they can see the results and benefit from their success.

“It’s the profits from such businesses that underpin our savings and our pensions. And the wealth that a strong market economy creates which, in the end, pays for our public services.”

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