Reeves tears up rule book as cities get funding

RACHEL Reeves has confirmed plans to tear up the Treasury’s Green Book rules to help fund billions of pounds of investment in cities across England.

- By Steph Spyro

The £15.6billion package for mayoral authorities included funding to improve public transport in Tyne and Wear, Greater Manchester and the West Midlands.

There was also cash for a renewed tram network in South Yorkshire and a new mass transit system in West Yorkshire.

Green Book rules - guidance issued by the Treasury on how to appraise policies and projects — have been criticised in some quarters for favouring investment in London and the South East.