Chancellor Rachel Reeves to give major speech - see how it could impact you
Chancellor Rachel Reeves to give major speech - see how it could impact you
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Chancellor Rachel Reeves will give a major speech on Wednesday as she reveals plans to fire up growth. She will champion proposals to revitalise the area around Old Trafford - with housing and commercial development around a state-of-the-art stadium for Manchester United. The club is pushing for a new 100,000 seater ground or an 87,000-seat refurbished arena - a £2billion project dubbed the "Wembley of the North".
Greater Manchester Mayor Andy Burnham wants a massive regeneration project around Old Trafford, which he said "represents the biggest opportunity for urban regeneration this country has seen since London 2012". Manchester United would foot the bill for the stadium but public bodies would be involved in supporting creation of new homes and transport infrastructure.
The Chancellor will hail the project as she spells out her plans to get the economy firing, which is expected include backing the controversial expansion of Heathrow Airport. In a speech in Oxfordshire on Wednesday, Ms Reeves is expected to talk up Britain's "huge potential".
But she will add: "For too long, that potential has been held back. For too long, we have accepted low expectations, accepted stagnation and accepted the risk of decline. "We can do so much better. Low growth is not our destiny. But growth will not come without a fight. Without a government that is on the side of working people, willing to take the right decisions now to change our country’s course for the better.".
She will also announce a bid to create "Europe’s Silicon Valley" by improving transport between Oxford and Cambridge, and building more homes to drive down prices. The Chancellor will pledge to create an Oxford-Cambridge Growth Corridor, clearing the path for a 4,500 home development in Cambridge, with schools and leisure facilities as well as office and lab space.
