Lancashire’s devolution ambitions have received a significant boost following the Government’s Budget announcement that it is in the final stages of agreeing a new mayoral strategic authority for the county.
The proposed deal could give Lancashire greater control over funding and local decision-making, creating opportunities to invest in transport, town centres, housing, skills and business growth.
A mayoral agreement could also unlock substantial long-term funding, with around £35 million a year over 30 years previously indicated by the Government. However, the final arrangements are yet to be confirmed.
The announcement marks an important milestone for Lancashire as it seeks to strengthen its economic position and keep pace with neighbouring areas that already benefit from devolved powers.
Frank McKenna, Group Chair and Chief Executive of Downtown in Business, said:
“This is a welcome step forward for Lancashire and an opportunity to give the county a stronger voice in shaping its economic future.
“Devolution has the potential to unlock investment, support businesses and create jobs, but it is vital that Lancashire now turns this announcement into meaningful action. The county has huge potential, and we need to see the powers, funding and leadership in place to help it compete with other parts of the North.
“Today’s announcement is encouraging, but the real test will be how quickly Lancashire can turn this opportunity into tangible benefits for businesses, communities and the wider regional economy.”
Further details are expected as negotiations progress, with public consultation and formal decisions still to come.
