HAMPSHIRE is set for a £27m boost that could kick-start vital transport projects and could create 1,000 new jobs.

During a visit to the county today Chancellor George Osborne is set to formally announce extra funding to improve roads around two Hampshire towns and carry out vital repair work on a main route to Southampton docks.

The money was signed off by Prime Minister David Cameron, who visited the city on Monday, and Deputy Prime Minister Nick Clegg.

It is an expansion of the £124.8m committed to the region through a Growth Deal with the Solent Local Enterprise Partnership (LEP) last year.

During a speech in Southampton today, Mr Osborne will say the funding will go towards a number of key infrastructure projects, as well as boosting skills and jobs.

Some funding will go towards improving roads in and around Fareham and Gosport, while other cash will go towards vital repair work at the Millbrook roundabout to allow traffic to Southampton’s Western Docks.

A range of new projects will be launched to improve the skills of thousands of people in Hampshire in subjects such as science, technology, engineering and maths, some of which will be coordinated by a new National Maritime Systems Centre of Excellence in Portsmouth.

Those projects, which will receive funding for 2016 to 2021, are on top of others announced last year in the initial Growth Deal.

They include completing other road improvements works around Fareham, including the Peel Common Roundabout, to remove stumbling blocks for the Stubbington Bypass, cash to build flood defences on Southampton’s Itchen Riverside and improvements to Eastleigh College and the Red Funnel ferry terminal in Southampton.

Solent LEP chairman Gary Jeffries said: “The funding announced brings the total secured through our Growth Deal to over £150m and this additional money will allow us to build on our initial deal with a further 1,000 jobs and 1,000 homes. That’s on top of the 5,000 jobs and 10,000 homes already announced and is another milestone for us in helping the Solent realise its true potential.”

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Southampton City Council leader Simon Letts said: “The port of Southampton is a major strategic asset for the Southampton, Solent and wider UK economy and the funds announced today will build on the recent good news the city has seen in the Autumn Statement for major road improvements at Redbridge and on the M3 by ensuring that that we can also enhance the access routes to the western docks.

“Together this package of upgrades will have a big impact by allowing us to facilitate the projected growth at the port and keep the city infrastructure running for Southampton businesses and residents alike.”

Hampshire Chamber of Commerce chief executive Stewart Dunn said: “We welcome the news because this is good to keep the economy growing and the improvements to transport are most welcome in order to keep business moving.

“We particularly welcome the skills programme, as this will be our next challenge in the years ahead.”