19 March 2020
Devolution agreement to help unleash West Yorkshire’s potential
The agreement of a West Yorkshire devolution deal is set to help "unleash the full economic potential" of the Northern Powerhouse.
The £1.8bn deal was announced by Chancellor Rishi Sunak in the Spring Budget and also includes an elected metro mayor for the region.
A total of £38m per year for 30 years will go into West Yorkshire Investment Fund, to be spent on local priorities.
The deal also includes £317m from the Transforming Cities Fund to support transport projects including the reconfiguration of the front of York station, work to prepare Leeds' rail station for HS2 and Northern Powerhouse Rail, and a package of measures to transform Wakefield city centre.
A total of £25m will support the development of a British Library North in Leeds, £500,000 will go towards masterplanning in Bradford City Centre to maximise regeneration opportunities from Northern Powerhouse Rail, and £3.2m will support the development of a pipeline of housing sites across West Yorkshire.
Roger Marsh, chair of the Leeds City Region Enterprise Partnership (LEP) and the NP11 group of 11 local enterprise partnerships, said: "This is a significant milestone for our region, giving our local area more of the investment and powers we need to create extraordinary economic opportunity for our people, businesses and communities.
"This deal is also a positive step forward for the North as a whole. As the NP11 set out in our manifesto for the North, devolution for every part of the North is critical to unleash the full economic potential of a thriving Northern Powerhouse."