As part of its strategy to build a 21st century economy for the many, not the few, Labour will today commit to upgrading the economy of the North East with over a billion pounds of investment to overhaul rail services across the region.
The next UK Labour government will end the years of Tory underinvestment in the North East that has held back prosperity in the region, committing £1.4bn from its National Transformation Fund for the regions.
Newcastle will get a new £500m fleet of state-of-the-art trains for the Metro, whilst the reopening of the Leamside line will connect rail services from Durham with Fencehouses, Penshaw, Sunderland, South Hylton, Washington, Pelaw, South Shields and Newcastle. There will be funding for station improvements at Darlington and Middlesborough. And the long-delayed electrification of Northallerton to Teesport will hugely increase capacity for the fast-growing port.
It’s all part of Labour’s commitment to upgrade our economy. After years of Tory failure, planned transport investment in the North East is just £220 per person, whilst London is set to receive £1,900. But failing to invest on the scale needed means holding back the potential of businesses across the North East to prosper, as congestion and over-stretched transport links add costs and delays. Labour will overturn this bias, making sure every part of our country gets the investment it needs to unlock its potential.
Expert analysis forecasts that with strategic transport investment, the North of England could create 60,000 extra jobs, as part of a £20bn growth boost as its potential is unleashed.
Matching our commitment to invest, a Labour government will implement a comprehensive industrial strategy for the North East to support key manufacturing sectors in the region, using every policy lever available to support jobs.
Labour’s industrial strategy will work with business and utilise public procurement, support for strategic sectors, investment in skills, R&D and infrastructure like modern rail services and superfast broadband to stimulate growth across the North East, working in partnership with key employers and local authorities to develop the region’s huge potential, creating better jobs closer to home.
Labour’s strategy for growth will ensure prosperity in every corner of the country for the many not the few.