Levelling up minister Dehenna Davison and mayor Andy Burnham signed a devolution deal for Greater Manchester yesterday, which will give the area a long-term funding settlement and greater powers.
The agreement, signed on 21 March, “deepens” the existing powers in the region and includes a long-term funding settlement, which involves the right to retain 100% of business rates for 10 years and 25-year business retention in designated growth zones.
It also includes a partnership with Homes England that will invest £400m in Greater Manchester by 2026 and further support for regeneration as well as infrastructure, with £150m of brownfield funding.
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Burnham said: “We’ve worked hard to secure this deal and have achieved a significant breakthrough by gaining greater control over post-16 technical education, setting us firmly on the path to become the UK’s first technical education city-region.”
He added that the deal gives Great Manchester new “responsibilities to achieve fully integrated public transport including rail through the Bee Network by 2030” and leadership over housing “that will allow us to crack down on rogue landlords”.
The deal will also give the area greater oversight and control over adult skills funding as well as devolution of funding to retrofit buildings.
This is part of the 12 new investment zones announced in chancellor Jeremy Hunt’s Budget on 15 March, which are aimed at “supercharging” growth and levelling up the UK.
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