The Tay Cities Deal will receive £350 million of public funding, The Courier can reveal.
Chancellor Philip Hammond is to commit about £150m of Treasury cash to the package when he delivers his Budget to the House of Commons on Monday.
That will be match-funded by the Scottish Government – which has also pledged to top up its contribution to £200m – and further supplemented by private sector investment over the next 10-15 years.
The UK Government is seeking to justify its lower figure by saying it is only funding projects in reserved areas that meet strict standards for creating jobs and driving forward the economy.
Analysis by The Courier has found that, according to the average Scottish city deal spend per head of population, Tayside and North East Fife was in line to receive at least £144m from each government.
There will still likely be disappointment in some quarters, however, with councils having asked for a combined £400m.
A heads of terms agreement, which will reveal which projects are being funded, is expected to be signed shortly after the Treasury unveils its Tay Cities Deal contribution.
The bid, which was submitted last year, includes the aim of creating 15,000 jobs in Dundee, Perthshire, Angus and North East Fife.
Among the projects on the wish-list are transport links, research facilities, industry hubs and cultural centres.
On Saturday, The Courier revealed the Scottish Government would invest at least £200m into TCD, regardless of what the Treasury provides.
Previous deals have been signed on the basis of equal funding from both governments.
A UK Government source said: “The projects need to go through pretty tough due diligence from the Treasury based on what is going to create jobs and work for the economy, not on some arbitrary figure from the Scottish Government.”
Michael Matheson, the Infrastructure Secretary, said last week he expected the UK Government to “step up” and match their contribution, warning of a public backlash if they did not.
Mr Hammond presents his Budget to parliament on Monday afternoon after his boss Theresa May told the Conservative conference that the public purse strings will be loosened.
Mr Mackay told BBC Sunday Politics Scotland: “The Prime Minister said austerity is going to end and I’m saying to the UK Government: show me the money.
“That means a substantial, meaningful uplift in addition to the health commitments, which I welcome, and it must not be offset by cuts elsewhere.”
The Scottish Conservatives want the SNP administration to spend “every penny” of extra funding from the Budget on health and social care.
Miles Briggs, the Tory MSP, said: “The SNP has run out of excuses. Let’s see Nicola Sturgeon set out a plan, not a grievance for once.”