Chancellor confirms City and Growth deals will go ahead

Previously paused City and Growth deals for the Causeway Coast and Mid South West will go ahead, the Chancellor has confirmed in the 2024 Budget announcement.

The Government caused controversy when it suspended funding commitments to the deals pending the outcome of its wider spending review in September.

Stormont's Finance Minister, Caoimhe Archibald, has welcomed the reinstatement of the stalled growth deals which she says will "boost economic development and deliver regional balance".

Rachel Reeves told the Commons: “To support growth, including in our rural areas, we will proceed with city and growth deals in Northern Ireland – in Causeway Coast and Glens, and Mid South West."

“This Budget provides the devolved governments with the largest real-terms funding settlement since devolution

Turning to Barnett consequentials for Stormont, the Chancellor said: “This budget also provides £1.5 billion to the Northern Ireland Executive in 2025-26.”

Reacting to the lifting of the pause on the City and Growth deals, Finance Minister Dr Archibald said: “I am glad that common sense has prevailed and the right decision has been made to allow these game-changing growth deals to proceed for these regions.

“The announcement that funding for both the Causeway Coast and Glens and Mid South West Growth Deals has been lifted is great news.

“These deals are a key driver to boost economic development and deliver regional balance.”

In a joint statement, the Mid South West Region and Causeway Coast and Glens Borough Council hailed a positive outcome.

“We welcome the news that the UK Government will stand by its funding commitments to the Mid South West and Causeway Coast and Glens growth deals,” they said.

“This is a very positive outcome which means that we can move forward on the development of our key innovation, green energy and decarbonisation projects designed to boost the economy in these regions.”

They added: “These growth deals are crucial to delivering on the UK Government’s clear priority for sustainable economic growth and the NI Executive Economic plan to boost regional economic performance by delivering good jobs, increased productivity and reduced carbon emissions.

“We look forward to engaging with the Northern Ireland Office in the coming weeks to progress these deals to their respective next stages.”

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