We welcome the Spring Budget 2023 announcement by the government, which brings a wealth of benefits to the city.
We are particularly pleased with the commitment to HS2, which will create 16,000 jobs in Digbeth, and a further 27,000 jobs at the HS2 interchange station. This is excellent news for the local economy, providing much-needed employment opportunities and a boost to the city's infrastructure.
Furthermore, the allocation of £25 million of social housing decarbonisation funding for Birmingham is a crucial investment in the well-being of the city's residents. This funding will help to ensure energy efficiency & help with the cost of living. The renovations done will also help to keep homes warm and dry, supporting the local community's health and well-being.
The Trailblazing devolution deal is a significant step forward for Birmingham. The £300 million investment in brownfield regeneration will help to transform and revitalise areas of the city that have been neglected for too long. Moreover, the West Midlands Combined Authority will now keep 100% of its business rates, an estimated £450 million, which will provide greater financial autonomy and control.
We are also proud to see East Birmingham North Solihull become one of six Levelling Up Zones, which are estimated to grow the local economy by £500 million. This investment will help to drive growth, create jobs, and improve the living standards for residents of the region.
Overall, the Spring Budget 2023 & Trailblazing Devolution Deal announcement are great successes for Birmingham. It shows that the government recognizes the importance of investing in local communities, supporting job creation, and driving economic growth. We look forward to working with our colleagues in government to ensure that these initiatives deliver the maximum benefit to the people of Birmingham.
