REDDITCH is part of a historic deal which will see the West Midlands have an elected mayor and more than £1 billion of Government investment.

Senior politicians and business leaders across the West Midlands are hailing the country’s biggest devolution deal to date.

The proposed agreement with the Government will see it make an annual contribution worth £40 million for 30 years to support an overall investment package worth £8 billion, which alongside the creation of up to half a million jobs.

The aim of the proposed deal is to give the emerging West Midlands Combined Authority, of which Redditch is a non constituent member, the funding and the powers to help businesses and improve transport, jobs, skills and homes.

Announcing the deal, Chancellor George Osborne said the combined authority would benefit businesses and manufacturing in the Midlands and encourage councils to work together.

"We want to make the Midlands Britain's engine for growth and this deal will give the region the powerful levers it needs to make that happen," he said.

Redditch MP Karen Lumley said: "I am delighted that Redditch are to be part of this new combined authority and that this is a historic deal for the West Midlands. We will see millions of pounds invested here in the Midlands with thousands of new jobs created.

"I met the Chancellor last week to put Redditch's case forward and look forward to working with my council to ensure we see investment coming to Redditch."

Councillor Brandon Clayton added: "Now we are in the combined authority we have to embrace it. It's a good thing for businesses and it helps people then that's got to be good."