Chancellor Rachel Reeves announces £95m cash injection for Liverpool city region to support projects such as the proposed £5bn transformation of Liverpool Central station and the surrounding area. Tony McDonough reports
Liverpool city region Mayor Steve Rotheram has secured an extra £95m from the Government to support his plans for major regeneration projects.
On Tuesday, Chancellor Rachel Reeves unveiled a £1.7bn investment package for the north of England designed to “bulldoze through roadblocks holding up big city-centre projects and large‑scale regeneration schemes”.
In Liverpool city region the £95m is likely to be used to support projects such as the large-scale redevelopment of Liverpool Central station and the streets and the life sciences sector in areas such as Liverpool’s Knowledge Quarter.
This would only represent a small percentage of the money needed for Liverpool Central, which it is estimated will cost around £5bn, but it will allow more planning work to be done on the project ahead of the hoped-for full funding from Whitehall.
In October 2025 the Chancellor said the project would be included in a review of the so-called Green Book. This is a guide that provides a framework of costs, benefits and risks of major schemes.
Mr Rotheram is one of a number of advocates for the reform of the Green Book which many claim is skewed towards favouring projects in London and the South East over those in the regions. He is looking for £2.5bn for Liverpool Central.
Today’s funding announcement may also be good news for the continued development of the Knowledge Quarter, known as KQ Liverpool. This £1bn project has already seen a number of developments such as The Spine office building.
Last week further details were announced on the timetable for the building for the £51.7m HEMISPHERE One laboratory and office space development in Paddington Village.
READ MORE: Is start date finally in sight for Martins Bank project?
Following the latest announcement from the Chancellor, Mr Rotheram said: “Where you grow up shouldn’t determine how far you can go in life.
|For too long, brilliant young people across the North have felt they had to leave home to find the opportunities they deserve. That’s never been about a lack of talent – but a lack of opportunity and investment.
“The Chancellor’s support for the Northern Growth Corridor recognises what many of us have known for a long time – the North already has the talent, the ideas and the drive to succeed.
“With the right backing, we’re ready to turn that potential into jobs, growth and opportunity for millions of people.”