Member

The noble Lord asked how funding will be unlocked. The Government will support with the costs associated with the new authority. Hampshire and the Solent has already received £3 million in capacity funding to help cover the costs associated with establishment and will receive a further £6 million over the next three years to help with core running costs. The authority will also receive the 30-year mayoral investment fund: once a mayor is in post, this will be £44.6 million per year, or £1.3 billion over 30 years. In the two years prior to the mayor being elected, the authority will receive a portion of this, to support early delivery of growth priorities. It will also receive other devolved funding in areas such as transport and adult skills. We are not hanging on until the mayor comes into post but encouraging colleagues in Hampshire and the Solent to get on and start work on this programme.