SDLP Derry City and Strabane District Council Group Leader councillor Brian Tierney has requested a special council meeting to discuss the pausing of the City Deal.
The UK Government announced the move on Friday afternoon.
Said Councillor Tierney: “The SDLP have been pushing for a City Deal for this region for more than a decade. We recognised the potential it has to attract much needed investment, create jobs and boost the local economy.
“After many years of fighting, campaigning and persuading the UK Government, I was delighted to sign the Head of Terms for the City Deal during my term as Mayor in 2021.
“Our city deal was set to be signed in Derry next week and all of the projects set to benefit have been getting ready for this for some time.
“The news that the UK Government has now taken the decision to pause funding for the city deal, potentially depriving key projects in this city and council area of hundreds of millions, have thrown these projects into chaos and they now face an uncertain future.
“I believe it is vitally important that our council meet as soon as possible to express our opposition to this decision and to show a united front as we urge the government to immediately reverse this.
“Important initiatives focused on expanding the university at Magee and lifting up our cities and towns are relying on this funding and it must be delivered as promised.”
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