£96.9m to be pumped into Berkshire economy after growth deal agreement

£96.9m to be pumped into Berkshire economy after growth deal agreement

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James Preston

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£96.9m to be pumped into Berkshire economy after growth deal agreement

A major investment in Berkshire has been agreed with the Government which will see £96.9m pumped into projects in the area.

Up to 17,000 jobs and 10,000 homes are expected to be created in the area following the agreement of the Thames Valley Berkshire Growth Deal – a plan for projects aimed at benefiting the local economy created by the Thames Valley Berkshire Local Enterprise Partnership (LEP).

The plan includes the provision of £6.8m to help fund improvements to Maidenhead Station for the Crossrail project and a new rail link east of Slough to improve access to Heathrow Airport.

It would also see the Department for Transport provide technical assistance on discussions to create a new Thames crossing to ease pressure on Sonning bridge.

Assistance will also be given on plans to create a ‘smart’ motorway system on the M4 across the Berkshire area, with new traffic and speed control measures.

Growth Deals are Government initiatives which see funds provided to LEPs based on the plans for investment they present to improve local economies.

The deal, agreed this week, will see £17m invested  in 2015/16 and a further £79.9m allocated in 2016/17.

The news has been welcomed by Maidenhead MP Theresa May.

She said: The Thames Valley Berkshire Growth Plan is a major boost for the local area and is part of the Government’s long-term plan to spread economic growth across the country.

“I strongly welcome measures to improve local transport infrastructure, and it is important to see progress on projects such as the improvement of Maidenhead Station, Crossrail, and a new Thames bridge.” 

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