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News - 7 July 2014

Southampton’s new "Growth Deal" will bring jobs, homes and better roads.

 The Solent Local Enterprise Partnership (LEP) is being given £124m of Government money to spend over the next five years, as part of a massive £360m boost Hampshire is set to receive, in a deal that aims to create thousands of jobs and new homes and revitalise the economy.

 
Major plans unveiled today include a new ferry terminal in Southampton, major improvements to Hampshire's road network and state-of-the-art facilities at two of the county's top colleges.
 
Lavinia Newman, founder of ABDS comments:
“Under the Solent Growth scheme £46m will be released in the first year as part of the Government's on-going commitment to the area and a further £78.8m will be handed over from 2016-2017 onwards. Some of the money will be used to fund a new road at Whiteley, making it possible to build 3,500 homes in the north of the area, and a new science, technology and engineering block will be built at Brockenhurst College and Eastleigh College will also be upgraded. This is great news for our local area and economy.”
 
A Cabinet Office spokesman said the huge investment in the Solent area could create as many as 5,000 jobs.
 
Cllr Sean Woodward, leader of Fareham Borough Council and a director of Solent LEP said: “I'm absolutely delighted. It's a tremendous boost for the area.”
 
Hampshire will also benefit from the Government's decision to hand £118m to the Enterprise M3 LEP.
 
Most of the money will be spent in Surrey but improvements will be made to the A340 near Basingstoke to cut congestion in the area.
 
Prime Minister David Cameron said: “Growth Deals are a crucial part of our long-term programme to secure Britain's future.
“For too long our economy has been too London-focused and too centralised.
 
Gary Jeffries, chairman of Solent LEP, also hailed the scheme saying the deal would help the LEP secure its long-term goal of securing 15,500 jobs and 24,000 homes in the Solent area.
“Today's announcement will enable us to begin the process of transforming the Solent economy.”
 
If you need any help and advice for your business on the implications of central and local Government Funding initiatives, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help
 
ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900 E-mail: abds@netaccountants.net
 
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Great with people  
Clear and precise with advice
Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals
 
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