Issue - meetings

(Lead Member: Cllr S Hinchcliffe, Director: Ben Still)

Resolved:  That the approach set out in the report to the Single Investment Fund and supporting Strategic Economic Framework for the Mayoral Combined Authority as part of the West Yorkshire devolution deal be approved.

The Combined Authority considered a report of the Director, Corporate Services on the Single Investment Fund (SIF).

Members considered the principles and design of a Single Investment Fund (SIF) as the transition is made to become a Mayoral Combined Authority (MCA).  It was noted that the proposed approach to the development of a SIF is designed to ensure it supports delivery of the MCA’s agreed strategic objectives and provides an opportunity to create an overall ‘single pot’ which brings together all the MCA’s funding.  It would give the Authority greater ability to prioritise investments including interventions on skills, business, inclusion, climate and infrastructure.  A summary of the process was set out in the submitted report and at Appendix 1. 

It was reported that work was underway to revise the Strategic Economic Framework for the MCA and a report would be brought to a future meeting. Members noted Appendix 2 which set out how an approach, led by strategic priorities, could support the delivery of the region’s projects and programmes of activity.  This approach would deliver inclusive growth and transport improvements, increase productivity, address the climate emergency and unlock the economic potential and accelerate growth.

Resolved:  That the approach set out in the report to the Single Investment Fund and supporting Strategic Economic Framework for the Mayoral Combined Authority as part of the West Yorkshire devolution deal be approved.