The East Midlands will receive £1.14billion over 30 years to invest in the region and, as one of the largest combined authorities, we will have greater influence at the highest levels to deliver a better quality of life for local people.
There is obviously much more to do and the 4 councils will be working closely together to develop the details of the deal, with each council taking a report through their council meetings. There will also be a public consultation later this year to ensure that the voice of residents, businesses and partners is fully heard.
The deal is one of the first of a new type of combined authority, happening across a 2-tier area, and requires new legislation from central government. The devolution deal is a level 3 deal, which offers the most local powers and funding, and will mean a new elected regional mayor, with elections currently expected to take place in 2024.
As I said in my last update, this is not about local government reorganisation and no councils will be abolished: it is about getting a fair share for the people of Derbyshire and bringing in more jobs and skills, improving housing and transport, and fundamentally supporting a better quality of life for people in the region.
This is a huge achievement for Derbyshire and the East Midlands as a whole, and one that brings powers from Westminster to a local level and will deliver real benefits. I will keep you up to date as we progress over the coming months.