The final elements of the North East Combined Authority budget have today (17 Feb) been agreed.
Members of the authority met this afternoon to discuss the proposed transport grant to Nexus and resources for securing inward investment.
Decisions on both issues were postponed at the neca meeting on 20 January to allow further consideration to take place.
Following this, members of the board have now agreed the two outstanding matters, namely:
• the approval of the transport grant to Nexus of £64.5m for the delivery of transport services in Tyne and Wear; and
• that contributions for the £70,000 base budget for inward investment are shared equally between the seven local authorities.
Members also agreed that increasing the level of support for inward investment would be considered at the next meeting.
Cllr Simon Henig, chair of neca, said: “I am very pleased that these remaining budget issues have been agreed.
“This will enable us to move forward and focus on delivering the transport and economic priorities needed to encourage investment in our region, promote successful businesses and bring new jobs.”