A public consultation on a proposed £1.14bn East Midlands devolution deal has opened and members of the public are being invited to have their say on the plans.

The deal – which is being offered by the government – would see Derbyshire and Nottinghamshire benefit from a guaranteed income stream of £38m per year over a 30-year period.

The East Midlands devolution deal – if approved – would give the region control of a range of budgets and see the election of a regional mayor to represent Derby, Derbyshire, Nottingham and Nottinghamshire in May 2024.

The new regional mayor would lead a new combined authority, made up of representatives from local councils, which would all continue to exist as they do now.

The main difference would be that decision making powers for the region are moved away from London to the East Midlands.

News of the proposal was first revealed in August when the four city and county council leaders signed up to work on the devolution deal.

Now, the council leaders have agreed to run a public consultation on the deal, giving residents and business owners the opportunity to have their say on the plan.

Councillor Barry Lewis, leader of Derbyshire County Council, said: “Devolution is about getting a better deal for Derbyshire and the East Midlands and achieving a fair share for our region. It will bring us more money and mean we can make more meaningful decisions here, rather than in London.

“This deal will bring more and better jobs and opportunities for training, improve the local economy, result in better transport and housing, and accelerate our route to Net Zero. I encourage everyone to take part in the consultation and give us their views on devolution.

“A devolution deal, should it be agreed, would be the beginning, not the end. We’re determined to build on this deal over time, as other areas have done.”

The public consultation opened yesterday (Monday, November 14) and will run until January 9.

You can take part in the consultation here.