A single annual payment of £389m was today (Thursday January 30)
confirmed for the region as part of an unprecedented shift in
power, funding and responsibility from Westminster to the West
Midlands.
Alongside the region's existing £211m transport funding, today's
Integrated Settlement - the first to be awarded to any English
region - will amount to £600 million to boost economic growth and
living standards over the coming 12 months.
The settlement, announced by Deputy Prime Minister , will cut bureaucracy and
give , Mayor of the West Midlands
and local leaders, greater control, choice and power to focus
money on regional priorities like economic growth, jobs, housing
and better transport.
The settlement, which will run from this April to March 2026,
will deliver a range of services and infrastructure projects that
had previously relied on the region's ability to win multiple
grants from different government departments.
The Mayor said: “This settlement shows the Government's strong
confidence and commitment in transferring more powers and
responsibilities from Whitehall to the West Midlands.
“That means every penny can be targeted where it will have the
biggest impact, on the things that matter most to people like
jobs, affordable housing and better transport – all key
priorities for me.
“This initial pot of money is just the start of a succession of
multi-year settlements for the region. In return I will use that
money to make bold, long-term decisions that create real
opportunities for local people, making sure no community is left
behind.”
The Mayor said the settlement would help get people into work and
better paid work, maintain and improve the public transport
network, deliver more affordable and social housing and help
businesses to grow.
The settlement will also accelerate the region's transition to
net zero with funding to retrofit old and cold homes with low
carbon heating and super insulation to help people cut energy use
and bills.
Today's settlement follows the Government's recent publication of
its English Devolution White
Paper which sets out ways to end Westminster-centric decision
making and micromanagement of mayors by transferring greater
freedoms, control and independence to the regions. It also
follows the confirmation of a new partnership between the region
and the National Wealth Fund.
As part of this ongoing devolution of powers and funding to the
West Midlands, the region expects future settlements to span
multiple years. It is also keen to see additional funding brought
under regional control for skills, employment support, business
growth and to tackle climate change.
The Integrated Settlement means the West Midlands has become the
first of only two English regions that will get a single pot of
money this year. The other will be Greater Manchester with more
regions to follow from 2026.
