In yesterday’s Autumn Statement, Chancellor Jeremy Hunt announced a proposed devolution deal for Hull and East Yorkshire, which is due to bring £400 million worth of investment funding over the next 30 years, new powers to drive regeneration and build more affordable homes, an improved transport network and more to the region.
Hull and East Yorkshire’s Business Engagement Board – an advisory partner to the Hull and East Yorkshire Local Enterprise Partnership, which focuses on the strategic business needs for our region’s future – has been campaigning for the deal for years and fully supports the proposal.
Arco’s chairman, Thomas Martin, chairs the Board. Responding to the monumental announcement, he said: “This devolution deal was initially proposed years ago, so I speak for the entire Board when I say that we’re absolutely delighted it’s now taken a significant step forward.
“Establishing a Mayoral Combined Authority will unlock significant economic opportunities for our region. We’ll gain access to more funding and investment through greater decision-making powers at a local level. This means more high-quality jobs, more training opportunities for our workforce and more infrastructure investment – to name just a few of the benefits.
“We’ve seen it can work, with the likes of Greater Manchester’s Andy Burnham and the West Midlands’ Andy Street using their status as Elected Mayors to negotiate even more opportunities for their regions, following their devolution deals.
“For a long time, our region has lost out on such opportunities. But this proposed deal will change that. I truly believe it has the potential to change the future of our region.
“I’d like to urge business leaders and local people across Hull and East Yorkshire to get behind this deal and show their support by engaging with the public consultation – which is due to start in January 2024.”