ALL ten councils in south east Wales have now formally agreed to join forces in a Capital City Region.

The commitment to work together is a major step forward in the bid to bring a City Deal to the region – intended to bring investment into the area and allow authorities to work together on ambitious projects like electrifying the South Wales mainline.

A £500,000 fund had been created to help develop the bid with each of the councils committing cash to the project.

The Argus understands the Vale of Glamorgan, the last council to formally sign up to the scheme, did so on Monday. Newport agreed the plan in June.

In partnership with the Welsh Government, the 10 councils will begin work to develop a proposal for the UK Government for investment in the city-region economy to provide jobs and increase economic output.

The City Deal aims to attract significant levels of new funding for south east Wales to support economic development. Elsewhere, City Deals have provided significant amounts of new funding to support infrastructure development for city-regions across the UK.

Monthly meetings have been scheduled for all leaders, with Welsh Government officials in attendance, to develop the proposal, while officials have established a working group across all ten authorities and the Welsh Government to develop the detailed business case for the City Deal.

Bob Bright, Leader of Newport City Council, said: “By working together, the South East Wales councils can make a real difference to the economy of the city-region and benefit all those who live and work here. Collaboration will help us realise the potential of a strong and united region.”

Hedley McCarthy, Leader of Blaenau Gwent County Borough Council, said: “The benefits from a City Deal are great news and could lead to exciting long term projects to develop the infrastructure, the economy and labour market for all South East Wales local authorities. I look forward to working with all our partners to deliver the business case in the coming months.”

Leader of Caerphilly Council Keith Reynolds said, “This ambitious new project signals the start of an exciting new era for the region. It’s great to see ten local councils working together with a shared goal of bringing prosperity and opportunities to our communities in the future.”

Peter Fox, Leader of Monmouthshire County Council, said: said: "A City Deal for the Cardiff Capital Region will do so much to create a successful and vibrant economic future for south east Wales. It would unlock huge opportunities for the valley communities, our cities and rural counties like Monmouthshire. I look forward to working closely with colleague leaders and other partners to make this a reality."

Torfaen County Borough Council Leader Bob Wellington said: “This partnership should support economic growth for the entire region, helping to improve people’s quality of life and the communities in which they live. Collaboration is not a new concept; however, it has become a vital one if we are to continue to deliver public services that meet the outcomes that our citizens want. This commitment to cross-council collaboration will help to make us more efficient and effective.”