Greater local decision making – or “devolution” has brought great benefits to our region under West Midlands Mayor Andy Street. I joined him in campaigning for further autonomy over our local economy and infrastructure, and I strongly believe that with new powers and consequently, a bigger funding pot, we will have much more leverage when it comes to campaigning for local initiatives, like regenerating Lye or funding the feasibility study for the Stourbridge Dasher.
I can proudly say that after months of campaigning by me, Andy Street and other Conservative West Midlands representatives the Government has delivered a Devolution Deal for our region!
The West Midlands Devolution Deal secures wide-ranging new powers and a budget windfall in excess of £1.5 billion to level up our region. It was announced by the Government in March 2023's Spring Budget and secured new and significant longer-term funding agreements including 100% business rates retention for 10 years, worth £450 million.
Some of the highlights of the deal include:
- A landmark housing deal worth up to £500 million, offering greater flexibility to drive brownfield regeneration and unique powers and funding to deliver affordable housing at pace.
- Fiscal devolution, including retention of business rates for the next 10 years – worth an estimated £45 million a year to the WMCA and local authorities.
- A new departmental-style budget arrangement with a single pot of funding.
- Up to six levelling up zones, backed by 25-year business rate retention, with an expected total value to the region of at least £500 million, to target investment and encourage jobs and regeneration in areas agreed between the WMCA and Government.
More information can be found here on the Devolution Deal.
With the power in the hands of local people decision-makers, we can cut out civil service bureaucracy and Westminster’s delays. We know our area better than anyone else, and with this devolution deal, we are closer to levelling up Lye and improving transport in the area with an upgraded Stourbridge Shuttle, the Stourbridge Dasher!