£860m ‘New Deal’ stimulus approved for South Yorkshire
Mayor Dan Jarvis and local leaders have approved an £860m stimulus to start South Yorkshire’s recovery from COVID-19
The plan, details of which were outlined earlier this month, was approved at a Mayoral Combined Authority meeting.
The “New Deal for South Yorkshire” package includes:
- The South Yorkshire Young People’s Pledge. A promise by leaders to help the region’s young people get around with discounted bus and tram fares, with support to improve their skills and find work.
- Almost £360m funding for South Yorkshire’s recovery over the next 12 months, investing in infrastructure, new homes, apprenticeships, flood defences, better transport links – to create jobs, revitalise high streets and town centres and protect the environment.
- From 2022, creating the South Yorkshire Renewal Fund, worth up to £500m by drawing down the MCA’s gainshare funds to unlock investment and transform the region. This will roughly be split between £300m for places, including infrastructure and transport; and £200m for jobs and skills.
Jarvis, said: “We will not be blown off course by COVID. We’re working to create a stronger, greener, fairer South Yorkshire for all – delivering not just recovery, but renewal.
“Our plan sends a message of ambition and confidence: that South Yorkshire’s best days lie ahead of us, and that we’re making our region an even better place to live, work and invest.
“We are backing our young people: with a pledge to help them get where they need to be, to help provide the skills they need, and to create the opportunities they want.
“We are backing our businesses: helping them adapt and thrive after COVID, and attracting new ones to locate and grow here. We are backing our places: with investment in flood defences, new, greener homes and revitalised town centres and high streets.”