George does the business for city

Chancellor of the Exchequer George Osborne delivers his Autumn Statement to MPs in the House of Commons
Chancellor of the Exchequer George Osborne delivers his Autumn Statement to MPs in the House of Commons
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Sheffield played a major role in the Autumn Statement as millions in funding was announced for schemes in the city - from advanced manufacturing to banking.

Chancellor George Osborne announced £61m funding for seven Government-backed High Value Manufacturing Catapult centres, including the Advanced Manufacturing Research Centre and its nuclear sister in Rotherham.

They are set to invest in cutting-edge equipment to help around 2,250 manufacturers in areas such as robotics, printable electronics and carbon fibre composites.

Dick Elsy, chief executive of the High Value Manufacturing Catapult, said: “This is an extremely welcome announcement, which sends a key message that government takes manufacturing very seriously and recognises the importance of strategic long term investment.

“In our three years of existence, we have developed such a strong track record, that many overseas governments use us as a benchmark of success.”

The Chancellor also announced Sheffield University and the AMRC would share in £235m for the Sir Henry Royce Institute for Advanced Material Science which will be based in Manchester but will have a branch in Sheffield.

Prof Keith Ridgway CBE, executive dean of the AMRC, said: “This is further confirmation of the Sheffield region’s place at the forefront of developing technology that can give UK manufacturers a global competitive edge.”

Meanwhile, the British Business Bank, based in Sheffield, will receive an additional £400m for its venture capital programme and £500m of new lending guarantees for its enterprise finance guarantee scheme.

The bank was established in 2013 to improve access to finance for small businesses.