Devolution deal for North Yorkshire and York could prove among the highest per person

The much-anticipated deal, with proposals revealed in August after intense negotiations, could see a new mayor handed an investment fund worth £540m over a 30-year period.

Now analysis by the Northern Powerhouse Partnership (NPP) finds this could prove the second highest sum, per member of the population, across the North's agreements.

Other deals have secured extra funding for set projects, such as housing and transport, while the investment fund may have greater flexibility to target schemes on a local level.

This devolution deal could provide huge financial opportunities, the NPP has said, adding that it was a "significant" recognition from the Government.

Chief executive, Henri Murison, said the £540m should go a "long way" towards transforming public services and driving up productivity in the region.

He said: “Whether this means improving education and skills, providing better transport links, tackling climate change or ensuring better quality jobs and career opportunities, the funding under the investment fund is a vital resource for any devolution deal.”

The investment fund is just one element of any deal, he stressed, so it was natural to see variations.

The area's so-called gainshare, money provided by the Government annually for the investment fund, would equate to £23.31 per head of population under the proposal.

Only North of Tyne has secured greater sums, at £24.69 per person under its fund. By comparison, in South Yorkshire the figure stands at £21.81, and £16.68 in West Yorkshire.

The Liverpool City Region’s deal sees £19.68 per head, while the figure is £10.88 in Greater Manchester - although for example it does have an additional housing fund.

Coun Carl Les, leader of North Yorkshire County Council (NYCC), said detailed negotiations with ministers and civil servants at the start of the year had "reaped the benefits".

He said: "It will provide us with the opportunity to make decisions which will make a huge difference to the people who live and work in the county at a far more local level, and not relying on the Government to make those decisions for us."

York Council leader Keith Aspden, said devolution and investment secured represented a "real opportunity" for the city and the county, making a real difference to communities.

Councillors are reviewing the proposed deal, he added, and subject to their agreement residents and business' opinions will also be sought from next month.

The proposed deal for York and North Yorkshire would see an influential mayor election who would go on become an important figurehead for the region tasked with forging close links with the Government.

The new mayor, who would be elected in May 2024 if the proposed deal comes to fruition, would ultimately lead to a new powerful combined authority overseeing strategic projects.