Oxfordshire, Berkshire and Swindon leaders have agreed on a devolution plan which could bring “billions of pounds of investment” to the area as a government funding deadline expires.

Monday, October 26, was the cut-off for Oxfordshire, Berkshire and Swindon councils to support a devolution deal and secure funding for a new authority covering the Thames Valley region ahead of the budget.

For just under two years, councils have been working on a proposal for a devolved body for the area, with similar powers and funding as the mayors of London, Greater Manchester and West Midlands.

Now, a letter has been submitted by council leaders across the Thames Valley as agreement has been found on the issue of devolution – central government will have to decide whether to approve and fund this.

Oxfordshire County Council leader Cllr Tim Bearder.

placeholder image — Oxfordshire County Council leader Cllr Tim Bearder.

Oxford City Council leader Susan Brown (Labour) said: “I am really pleased that we have finally submitted a letter to give support for a Thames Valley Mayoral Strategic Authority.”

She said, if approved, the plan would be “enormously beneficial” for the region, allowing for “inward investment that is needed”, adding “it’s been a long time coming”.

This follows major uncertainty about whether devolution would go ahead.

This summer the Liberal Democrat leaders of Oxfordshire County Council and Royal Borough of Windsor and Maidenhead withdrew their support for the plans as they wanted Swindon to be excluded from them and for the authority to have a mayor straight away.

At that time, councils had been told by the Starmer government that the Thames Valley would not be considered for an authority with an immediately directly elected mayor.

Following a change in government, the region’s council leaders are hoping that a mayoral authority is back on the table.

Swindon continues to be included in the devolution deal, and according to Ms Brown, the door remains open to Buckinghamshire if it would want to get involved.

Sources have reported that a Liberal Democrat meeting took place on Sunday, October 25, the day before the expiry of the government deadline for funding, to decide if their leader, Tim Bearder, would agree to back a plan and remove his veto.

A spokesperson for Oxfordshire County Council said: “Leaders across the Thames Valley have written today to government to show their continued support for a Mayoral Strategic Authority for the region.

“We are now waiting for the government’s response.”

The county council and Tim Bearder have refused to respond to questions about why the Lib Dems were deliberating on the plan the day before the cut-off and what the decision-making process was for the devolution deal.

Previously, when Mr Bearder came out against the deal, Oxford City Council and other Labour-run authorities, including Reading, and Conservative-run Swindon expressed deep disappointment at the situation.

Lib Dem leaders in Cherwell and West Oxfordshire also came out to say they remained in favour of devolution with a foundation strategic authority.

A statement from the city council said the “devolution deal that would have brought billions of pounds of investment to the Thames Valley”.