The economies of the Borderlands area of the North of England and South of Scotland are to benefit from up to £447 million of investment.

The announcement of fresh funding in the UK Chancellor’s Spring Statement brings the Borderlands Growth Deal to deliver investment, create jobs and encourage economic growth in the Northern Powerhouse and across the Borderlands region a step closer.

The funding will provide the opportunity to explore key priority projects such as regenerating Carlisle Station and developing the Lilidorei attraction at Alnwick Gardens, one of the North East’s most popular tourist destinations.

Discussions will continue with the local partners – including the local authorities of Carlisle City, Cumbria County, Dumfries and Galloway, Northumberland County and Scottish Borders — to further develop their proposals and work towards reaching a Heads of Terms agreement for the Borderlands Growth Deal later this year.

Secretary of State for Scotland, Rt Hon David Mundell MP, said: “Our exciting and innovative Borderlands deal recognises that the cross-border region is a single economic unit.

“Investment north of the border has an economic benefit south of the border and vice versa.

“It is the right approach and I’m absolutely confident the Borderlands deal will deliver a massive boost to the region, supporting business, creating jobs and improving quality of life for everyone who lives there.”

Minister for the Northern Powerhouse, Jake Berry MP, said: “Today’s announcement demonstrates the government’s ambition to develop the next phase of growth across the Northern Powerhouse and Borderlands so no one is left behind.

“This investment will go a long way to supporting jobs and boosting economic growth and tourism within the regions and improving people’s lives with increased job opportunities and improved transport infrastructure.

“People in the Northern Powerhouse and Borderlands regions are not forgotten and are an absolute priority for the government and we are determined to ensure these communities continue to thrive.”

Further significant investment in the region from the Coastal Communities Fund and Coastal Revival Fund is due to be announced later this month.