BUDGET 2016: Edinburgh has been awarded £1bn to promote investment into the city.
Proposals for the City Deal were put together by six local authorities in September: Edinburgh, East Lothian, Midlothian, West Lothian, Scottish Borders and Fife.
The £1bn of funding from the UK and Scottish governments will hopefully attract £3.2bn of private sector cash to boost the economy.
Glasgow secured Scotland’s first City Deal last year.
To help Wales, the chancellor also lowered the tolls on the Severn Crossing.
Commenting on Edinburgh’s City Deal, Nadir Khan Jahoor, head of Scottish agency at BNP Paribas Real Estate, said: “With Westminster and Holyrood stating that the new fiscal agreement for Scotland is fair to the rest of the UK and is without detriment to Scotland, both are claiming a neutral position for the six-year life of the agreement.
“It will take time to see beyond any political posturing and discover how Holyrood actually chooses to implement its greater tax powers.”
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