Commons Sense

House of Commons · Written Ministerial Statement

Northern Growth Strategy: Next Steps

19 March 2026 · Treasury

Proposed by James Murray Labour (Co-op) Ealing North

Business & TradeEconomyLocal Government

Summarised by AI from the official record, so it can contain mistakes.

View on Parliament.uk

At a glance

Key points

  • The Government is proposing to invest 2.3 billion through City Investment Funds to drive economic growth in northern England.
  • The proposal includes providing 150 million from the British Business Bank to support Industrial Strategy clusters in the region.
  • A roadmap for fiscal devolution is being developed to grant regional leaders more financial autonomy over time.

Issue summary

The statement outlines details of the Government's Northern Growth Strategy, focusing on driving economic growth in northern England.

Action requested

The Government is proposing investment through City Investment Funds of £2.3 billion and supporting Industrial Strategy clusters with £150 million from the British Business Bank. It also seeks to develop a roadmap for fiscal devolution, aiming to give regional leaders more financial autonomy over time.

Key facts

  • The publication lays out plans for the Northern Growth Corridor stretching from York to Liverpool.
  • City Investment Funds provide up to £1.7 billion directly to mayors of major city regions in the north.
  • Industrial Strategy cluster partnerships receive £150 million investment, supercharging growth in five areas.
  • A roadmap for fiscal devolution will be developed with Treasury officials and Mayors.
  • The invitation for views on the strategy closes on 31 July 2026.
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