Manchester launches £1 billion 'Good Growth' Fund to boost housing and jobs
The northern English city of Manchester has launched a £1 billion ($1.31 billion) “Good Growth Fund” aimed at supporting housing and employment projects, marking a significant step in Britain’s regional devolution process.
The fund, the largest of its kind, will allocate £400 million in its first wave to projects expected to attract £1.3 billion in private investment, News.Az reports, citing Reuters.
“Greater Manchester is the UK’s economic success story of the past decade,” said Mayor Andy Burnham, highlighting that the fund will also focus on areas of the city that have not yet benefited from recent economic growth.
The initiative comes as Prime Minister Keir Starmer pushes for greater devolution of power to regions and expanded skills training. However, Burnham noted that the northwest still awaits major infrastructure investments, particularly in rail and road networks.
The mayor also called on public finance institutions to join the fund as investment and institutional partners, following the example of the Greater Manchester Pension Fund, to strengthen the initiative.
The Good Growth Fund represents a major opportunity to reduce regional inequalities, boost local employment, and drive sustainable housing projects across Greater Manchester.
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