£900m boost for Sheffield City Region in new devolution deal
Local politicians and business leaders have today secured an in-principle deal with the Chancellor George Osborne to transfer national powers and control over funding from national Government departments to the Sheffield City Region – as well as securing a massive £900 million additional cash boost over the next thirty years to deliver major regeneration, infrastructure and business growth schemes.
The proposed deal, which concludes a month of detailed negotiations between the City Region and Government, will need to be formally approved by each of the local councils within the Sheffield City Region (which includes Chesterfield) and is subject to a programme of consultation and engagement with residents and businesses over the coming months. The deal will also be dependent upon the Government delivering on the promises it has made in this and previous deals, and the City Region agreeing to the creation of a directly-elected Mayor.
Councillor Sir Stephen Houghton, Chair of the Sheffield City Region Combined Authority, said: “This proposal marks the next step on our devolution journey and will enable local leaders to make bigger and better local decisions over skills, business growth and infrastructure. Over the coming months we will be speaking to local residents, businesses and partners about what this means for economic growth in their City Region.”
James Newman, Chairman of the Sheffield City Region LEP, said: “This deal will enable local leaders to accelerate delivery of the jobs and new businesses that our local economy needs to grow. This positions Sheffield City Region at the front of the Northern Powerhouse pack and strengthens our position as a world class centre for modern manufacturing and engineering technology.
Chancellor George Osborne said: “Manchester is not a one-off – far from it. In becoming the second great northern region to sign up to managing its own affairs with this ambitious agreement, Sheffield City Region is playing a vital part in helping to build the Northern Powerhouse.”
