The Deputy Prime Minister Nick Clegg has today announced greater power and freedom for the Hull and Humber region. It's one of twenty areas that will be set free from Whitehall and given the powers and tools needed to shape its own economic future.
Last summer, eight of England's largest cities confirmed deals with the Government to boost local growth. Now the Hull and Humber region is one of twenty additional areas which will soon be able to bid for new powers that will enable them to grow.
In return for cities' strong plans for growth the Government will devolve financial and planning powers to let cities take charge of their own destinies - from autonomy over how to spend their training and skills budgets, to creating local investment funds to build roads and unlock developments.
It is envisaged that the City Deal for Hull and the Humber will be used to maximise the potential of the Humber Estuary - already home to a chemicals and processing sector worth £6 billion and with the highest tonnage throughput of any UK port.