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Table 4 Infrastructure elements in the Wave 1 City Deals

From: ‘The governance of local infrastructure funding and financing’

Instrument City Deal Detail
‘Earnback’ Greater Manchester A payment by results infrastructure investment approach that is based on raising GVA growth, from which Greater Manchester earns back a return of national tax take.
Tax Increment Financing (New Development Deals) Newcastle, Sheffield City Region and Nottingham Borrowing to finance critical infrastructure against future business rates.
Economic Investment Fund All City Deals Pooled funding and business rates.
Rail Devolution Greater Manchester, Bristol and West of England, Leeds City Region and Sheffield City Region Commissioning and managing local and regional franchises.
Local Transport Major Funding Greater Manchester, Greater Birmingham and Solihull, Bristol and West of England, Leeds City Region and Sheffield City Region 10 years devolved transport funding matched locally for strategic transport investments.
Low Carbon Pioneers Greater Birmingham and Solihull, Leeds City Region, Greater Manchester, Newcastle and Nottingham Local programmes to reduce carbon emissions and invest in green infrastructure and city district heating systems.
Superfast broadband Bristol and West of England, Greater Birmingham and Solihull, Greater Manchester, Leeds City Region and Newcastle £100 investment fund.
  1. Source: Adapted from Marlow, D. (2012) City Deals – Implications for Enhanced Devolution and Local Economic Growth, Policy Briefing, London, LGiU