Combined Authority submits £200 million in autumn budget

West Yorkshire Combined Authority has submitted a bid of over £200 million of government investment and devolved powers in the government’s autumn budget in November, including over £50 million for innovation in the region.

The Combined Authority’s bid includes investment to new jobs and business opportunities in the region’s MedTech sector and to create a new High-Speed Rail Institute building on the region’s significant research capabilities in the rail industry.

The bid’s £100 million Leeds City Region Housing Deal will increase the rate of house-building in the region and create more, better quality, affordable housing. Meanwhile a proposed £40 million local energy fund will reduce the cost of domestic and businesses energy bills through investment in new, low carbon locally generated energy.

In addition, the submission also delivers a devolution deal that will bring on Yorkshire and Leeds City Region’s full economic potential. It also sets out the case for the government’s planned UK Shared Prosperity Fund, intended to replace European Union funding after Brexit, to form part of any ‘single pot’ arrangements as part of devolution.

The Combined Authority’s submission also includes immediate priorities such as the Leeds City Region HS2 Growth Strategy and continuation of economic services such as the LEP Growth Service.

Over £106.567 million of local investment has been approved by the Combined Authority, £54.824 million of which will be funded through the Leeds City Region Growth Deal and West Yorkshire plus Transport Fund Funding with the rest coming from other public and private investment.

Susan Hinchcliffe, West Yorkshire Combined Authority chair, said: “In our autumn budget submission, we’ve put forward some ambitious yet totally deliverable asks, building on our track record of successful partnership delivery to date.

“Achieving our region’s full potential over the longer term means creating a strong, successful economy that generates new sources of wealth and opportunity for everyone as well as making our full contribution to the UK economy. With an economy that’s already bigger than Wales and 11 EU countries, that potential is huge.

“However, realising this requires decisions on policy and investment to be made by people who are dedicated to our region and who have the local expertise required, so I hope the government will match our ambition for the meaningful devolution that will make this possible.

“Only by taking decisions and allocating resources at the right level, as set out in the devolution proposals contained in our autumn budget submission, will we be able to turbo-charge our economy and ensure our region plays its full part as a powerhouse, not just for the north but for the whole of the country.”