A NEW DEAL FOR THE WEST MIDLANDS

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 ten 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.

Measures to tackle digital exclusion including greater influence over high speed broadband investment across the region and a £4 million fund for devices and data to get more people online.

Greater local responsibility for developing and delivering careers advice and a partnership with Department for Work and Pensions to target employment support.

Devolution of the bus service operators grant and a new partnership with Great British Railways to offer greater local oversight and control of public transport services.

The UK’s first formally designated transport sandbox to deliver cleaner and safer vehicles and innovative transport services to our streets faster while supporting new jobs and investment.

A commitment to devolve retrofit funding from 2025, to allow the WMCA, and partners, to set priorities for investment in insulation and green energy for homes.

A commitment to a new partnership with national arts and culture organisations to shape their investment in regional cultural priorities.