Devolution: Sheffield City Region mayor describes breakthrough as 'big moment' for South Yorkshire

The mayor and all four of South Yorkshire’s council leaders formally agreed to the devolution deal at a meeting of the Sheffield City Region Mayoral Combined Authority meeting on Monday.

On top of £30 million a year pot, Mayor Jarvis will be able to have borrowing powers in order to get more funds and be able to have a deputy mayor and a political advisor.

He said: “The most important thing is we’ve agreed a way forward on how we proceed and that should give our city region, our businesses the certainty they’ve long required.

“In terms of our relationship with national government, it gives us much more credibility...there are no more barriers now for Government to be investing in our region.

“This is a very significant and very positive step forward for South Yorkshire. Yes, it’s taken us a bit of time to get to this point but I’m delighted that we’ve finally reached an agreement and drive our economy in the way we all want to see.

“This is a big moment for South Yorkshire and we’ve done it in a way that satisfies the individual ambitions of each council. Everyone has gone out with a smile on their face - there are no losers there are only winners.”

Government will introduce a pilot scheme in Sheffield City Region combined authority which will enable the area to retain 100 per cent of any additional business rate growth beyond expected forecasts.

These pilots will begin, subject to further detailed discussions between the combined authority and Government.

Bosses say the mayoral combined authority ‘should have control’ over the consolidated devolved capital transport budget.

A six-week public consultation is set to follow and the deal could be passed in law as early as June.

The deal was agreed after years of deadlock between the four South Yorkshire leaders, after talks collapsed in 2017 when Doncaster and Barnsley U-turned on the deal to lobby for a Yorkshire-wide arrangement.