York and North Yorkshire are to receive £540m of Government investment over 30 years in a landmark devolution deal that has been signed today.
The agreement will create a new combined authority across the region led by a directly elected mayor, who will have the power to spend the money on key local priorities such as transport, education and housing. It is the first city and rural region to see devolution on the scale enjoyed by city regions such as South and West Yorkshire, according to the Department for Levelling Up.
The unveiling of the plan coincides with Yorkshire Day.
