Aberdeen City Council has welcomed confirmation from UK Chancellor George Osborne of a £2.9bn City Region Deal for Aberdeenshire and Aberdeen.

Councillor Jenny Laing and Councillor Jim Gifford, respectively leaders of Aberdeen City Council and Aberdeenshire Council, each welcomed the news mentioned in the Chancellor's budget announcement.

Councillor Laing said: "I am delighted for Aberdeen and the whole of North-east Scotland that the Chancellor has today indicated he is willing to enter formal discussions on a City Region Deal with our officials. The proposals we have outlined will ensure the prosperity of our city and North-east Scotland for decades to come by anchoring an economy of global significance for the benefit of the UK as a whole. I am looking forward to developing detailed plans that will bring more jobs and opportunity for our region."

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Councillor Gifford said: "Today is a watershed moment for the Aberdeen City Region – a true recognition by Government that oil and gas underpins the UK economy and a commitment to the future growth and prosperity of the region that supports the industry. This is the start of a negotiation with both UK and Scottish Governments that will shape the region for many years to come."

The deal and aims to release £2.9bn for infrastructure improvements over the next 20 years, supported by an economic strategy focusing on internationalisation, innovation and skills.

(IT/MH)