WMCA negotiates new £1.5bn Deeper Devolution Deal

Published by

Sam Pither

The West Midlands Combined Authority has agreed a new Deeper Devolution Deal which brings new powers and budget of more than £1.5 billion.

The deal, which will be used to level up the region, was announced in today’s Spring Budget. It features new and longer-term funding agreements including 100 per cent business rates retention for ten years, worth £450 million.

From the next spending review, the West Midlands will have a departmental-style arrangement with a single pot of funding negotiated with Government.

Funding has also been committed for transport infrastructure via round two of the City Region Sustainable Transport Settlements, which will start in 2027 and support major projects including an expansion of the Metro network, new railway stations, and more dedicated bus and cycle lanes.

Following the announcement that the West Midlands will house one of 12 Investment Zones, the WCMA has negotiated new, locally designed Levelling Up Zones with 25-year business rates retention.

Andy Street, Mayor of the West Midlands and WMCA chair, said: “This announcement is a major step forward for the West Midlands with significant new powers and funding secured.

“We’re deepening devolution by building on previous deals and further empowering local leadership with the financial autonomy and decision making authority that they are best placed to deploy. No one in Whitehall can understand the West Midlands better than local leaders, and so there is no doubt in my mind that we should be empowered to shape our future – which is exactly what this new deal will allow us to do.

“I recently called for an end to the ‘begging bowl culture’ which confined us to regularly submitting bids for various pots of money in competition with other regions. I’m pleased to see that this new devolution deal goes some way to addressing that - giving us guaranteed devolved funding to spend how we choose, akin to what Government departments have currently, and doing away with Whitehall micromanagement.

“Since 2017, we’ve demonstrated a solid track record in building more homes whilst protecting the green belt, improving peoples’ skills to help them find quality work, increasing transport investment sevenfold and tackling the climate emergency. This is why the Government is trusting us and granting us greater responsibility - and accountability - to deliver even more.

“Today is a milestone day for the West Midlands, and I am delighted we have been able to work together as a team to get this Deeper Devolution Deal over the line.”

Sam Pither

Sam is the Regional Editor of Biz News, responsible for both Hampshire and Dorset. A new recruit to journalism, Sam started writing for the Business Magazine as a freelancer in May of 2022 after completing his degree in English at University College London. His passion for local businesses and ability to tell a story soon caught the attention of the publication’s management team and have led to his meteoric rise. Sam, who lives in central Reading, takes a particular interest in technology, gaming and food and drink, having been a chef before starting his degree.