Scottish Government pledges £200m towards Tay Cities Region Deal

The Scottish Government said it is prepared to invest £200 million to deliver inclusive economic growth across the region, through skills, tourism and innovation.

Over the next 10-15 years, the funding will secure significant numbers of both high value and entry-level jobs by supporting projects across the themes of skills, tourism, transport and innovation.

Announcing the commitment ahead of the UK Government Budget next week, Mr Matheson said: “Scotland’s cities and their regions are the engines of our economy. That is why I can confirm that the Scottish Government has agreed to invest £200m in the Tay Cities Region, to deliver significant long-term economic benefits.

“A Tay Cities Region Deal of this scale has the power to build on the area’s significant strengths and expertise. I expect City Region Deals to be funded on a 50:50 basis and I call on the UK Government to match our commitment and make this a £400m deal.

“The Tay Cities Region includes Dundee, Perth, Angus and the north of Fife. This investment will help the region continue to thrive and grow, fulfilling our ambitions for the region to be one of the most economically and culturally vibrant areas in the country and delivering benefits to the whole of Scotland.”

The Scottish Government said it will match the UK Government level of investment should a figure above £200m be announced.

Tim Allan, president of Scottish Chambers of Commerce, added: “We welcome the announcement from the Scottish Government to commit £200m to the important Tay Cities Deal. It is now over to the Chancellor to match the ambition and momentum of the Scottish Government, and to match the figure so we can achieve maximum impact for the region. It is critical the Chancellor rises to the challenge, with pace, and put business and enterprise at the heart of his Budget.”