Funding and spending
West Yorkshire Combined Authority’s total income in 2019/20 is £398 million - find out where our revenue comes from and how we spend it to support the growth and prosperity of the region.
Capital funding comes through the LEP Growth Deal, our West Yorkshire-plus Transport Fund and other investment grants that support our capital infrastructure programmes, including improvements to road, rail and cycleways, regeneration schemes, new college facilities and housing developments. The Combined Authority only spends two per cent of Growth Deal funding on delivery costs– compared with an average of 15 per cent elsewhere in the UK.
We also bring in Government, European and private sector funding to support our economic services and support for businesses. Private sector sponsorship pays for increasing amounts of our trade and investment work to attract new companies to the region, and we generate income through our bus stations and sales of MCard.
As a public body we must ensure that our budget is balanced. The majority of our revenue funding comes from the transport levy that West Yorkshire councils collect as part of their council tax and other transport funding.
Of this, £47 million goes directly towards providing free travel for senior, blind and disabled people, which is a statutory obligation. The rest goes towards local priorities, including concessionary fares for young people, socially necessary bus services for vulnerable people or those living in isolated areas and travel information services.
Like all public bodies, we face financial pressures and consistently look for ways to save money and improve efficiency, particularly in our corporate services. We have developed a Capital Investment Strategy and are also working on a Medium Term Financial Strategy which will identify, over the next three years, how we will make savings from services in line with the reduced revenue funding available to our council partners.