Council leaders have voted to proceed with a devolution deal that will create a directly elected mayor, despite a stark warning from the council's chief executive about a potential £300 million financial risk. The decision was made at a special meeting on [date], following months of negotiation with central government.
The chief executive's warning centered on the potential costs and liabilities associated with taking on new powers and responsibilities, including transport, housing, and skills. The £300 million figure represents the upper estimate of financial exposure if the deal's funding arrangements do not materialize as expected.
Proponents of the deal argue that it will bring significant investment and local control, while opponents have raised concerns about accountability and the concentration of power. The government has said the deal is part of its wider agenda to level up regions across the country.
The next step is for the public to be consulted on the proposal, with a referendum expected later this year. If approved, the first mayoral election would take place in [year].
