Chancellor throws weight behind £10m Derby plan

Rachel Reeves says a partnership backed by local leaders, industry bosses and £10m government investment will “drive growth, jobs and regeneration” in the city.

The chancellor arrived in Derby to join combined authority bosses, council leaders, major employers and community partners at the city’s Museum of Making for the first meeting of Team Derby, a public-private partnership aiming to position the city as a leading UK destination for the defence, clean energy and rail sectors.

Organisers say the initiative will focus on turning Derby’s existing industrial strengths into good jobs, better skills opportunities, stronger high streets and visible improvements across the city – with plans to boost government investment in the region and speed up delivery of regeneration projects across the city.

“Team Derby will drive growth, jobs and regeneration in this great city. That’s why we have backed it with £10m of investment, and I am delighted to be here today to show my continued support,” Reeves told the partnership’s first meeting this afternoon (30 April).

“Regional growth is central to Labour’s economic plan and we have real strengths here, from transport to defence and clean energy. I look forward to working with our brilliant Labour Mayor and Labour MPs as they take this initiative forward.”

Chancellor Rachel Reeves today joined Derby leaders, major employers and community partners at the city’s Museum of Making for the first meeting of Team Derby. Credit: EMCCA

The move comes after the chancellor announced plans to further decentralise government spending in a bid to boost the UK’s regional economies last month, describing the UK as one of the “most politically centralised of advanced democracies, and one of the most geographically unequal too”.

“Each part of Britain can carve out its own niche in industries crucial to the UK’s prosperity and security, drawing on the skills of their workforce, their existing industrial strengths, and the natural assets on which they are built,” she told the Bayes Business School during her Mais Lecture in March.

Mayor of the East Midlands, Claire Ward, said the Team Derby scheme would “unlock potential, boost productivity and ensure growth is shared fairly” in the region.

“Team Derby is exactly the kind of partnership we need to drive inclusive growth across our region, ensuring investment reaches every community and creates real opportunity for local people,” she said.

“By bringing together employers, educators and government, we can strengthen skills development, support lifelong learning and help residents access the high-quality jobs being created in our key industries.”