Trailblazer Devolution Deal for the North East
As part of the #budget2024 announcement today, the Government has confirmed the #NorthEastMayoral Combined Authority (NEMCA) will become just the third area in the UK to be granted #Trailblazer status.
#Trailblazer deals involve devolving more powers to mayoral authorities in England and simplifying their funding arrangements. They were first announced in the February 2022 when Greater Manchester and the West Midlands were invited to negotiate new deeper devolution deals with the government.
The ‘Deeper Devolution Deal’ published today which is subject to ratification by all partners will include a number of new and bespoke elements designed to support regional growth and boost the region’s economic strengths and emerging sectors including but not limited to:
A consolidated single pot for housing and regeneration funding, as a stepping stone to a full single department-style funding settlement.
From 2026, NEMCA will be able to set the overall strategic direction of the Affordable Housing Programme, in partnership with Homes England.
A pathway to agree a London-style integrated fares and ticketing system for rail & public transport across the North East.
The deal also confirms £58.4 million capital funding for the Tyne & Wear Metro for 25/26 and 26/27.
Establishes a new North East Strategic Energy Board which will coordinate energy supply and demand and promote growth in the offshore wind sector.
A package of financial investment potentially worth over £100m, including £37m of new flexible funding and an agreement to establish a growth zone with local retention of Business Rate Growth.
The full North East Mayoral Combined Authority Deeper Devolution Deal is available here:
https://lnkd.in/dAD6G5Ns