Politicians in Derby, Derbyshire, Nottingham and Nottinghamshire are set to discuss the next stage in their plans for greater independence.
The four local councils estimate devolution would free up funding worth 拢1.14 billion and have spent the past few months on detailed proposals.
Over the next few days their suggestions will be discussed and voted on by all four councils and 鈥 if approved 鈥 a full consultation will follow giving residents, businesses and other organisations the chance to comment.
If it goes ahead a devolution deal, with a regional mayor and combined authority created for the area, could come into play from 2024, with the mayor elected in May of that year.
In a joint statement the council leaders 鈥 Coun Barry Lewis, Coun Ben Bradley MP, Coun Chris Poulter and Coun David Mellen 鈥 said devolution was about getting a better deal for the area, more funding and the chance for more big decisions to be made locally rather than in London.
They said: 鈥淲e don鈥檛 want to miss out on the advantages that devolution would bring, which other parts of the country have already benefited from. We鈥檝e seen how devolution has given other areas more influence, a bigger presence, and helped them make the most of their strengths.
鈥淲e want to make the most of every opportunity, and of every penny, that this deal would bring in.
鈥淚t could make a real difference to people鈥檚 lives. More and better jobs, more investment, economic growth, better transport, housing, skills training, an improved greener and more sustainable environment.
鈥淭hese are the things we all want to see, as we work together for a better future for the East Midlands.
鈥淲e often haven鈥檛 had the same level of funding or influence as other areas, and this is a big chance to turn that around and help us live up to our potential as a region.鈥
What East Midlands devolution could mean:
A move towards Net Zero and cleaner air with new low carbon homes, retrofit existing houses with external wall insulation, promoting renewable energy and protecting green spaces,
Building on the region鈥檚 expertise in green technology and promoting a low carbon economy by investing in skills
More co-ordinated public transport
Working with Homes England to build more affordable homes, using powers to buy land and housing with district and borough council consent
Developing new commercial space
Working with government to address homelessness, domestic abuse, community safety, social mobility and support for young people
Take advantage of economies of scale by using combined and devolved budgets to deliver more value for taxpayers
If devolution goes ahead, a new type of combined authority would require legislation. As well as the 拢1.14 billion, it would bring in an extra 拢16 million for new homes on brownfield land and local control over a range of budgets such as adult education.
The devolution deal on the table is called a level 3 deal, which offers the most local powers and funding, and includes the new elected regional mayor.
Sign up for your free East Midlands newsletter and follow us on LinkedIn
Email newsletters
BusinessLive is your home for business news from across the East Midlands including Leicestershire, Nottinghamshire, Derbyshire and Lincolnshire.
Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates.
We will also send out 'Breaking News' emails for any stories which must be seen right away.
For all the latest stories, views and polls, follow our
