Michael Lawley, Chairman of Cooke & Arkwright said, “This ‘in principle commitment’ is great news for Cardiff and south-east Wales. The opportunity to now secure an effective injection of significant funding into infrastructure, such as the Cardiff Metro and Valleys Lines in particular, and securing political alignment across the Cardiff Capital Region, are big wins for business, investors and residents.”
Chancellor George Osborne announced an ‘in principle commitment’ to help fund the Cardiff City Deal in his Comprehensive Spending Review on Wednesday 25 November 2015, which set out the government spending plans for the next five years. He did not say how much the UK government would be prepared to invest. Outline proposals for the City Deal funding for the Capital Region were submitted to the UK government earlier this autumn by ten local authorities in south-east Wales.