Sheffield teens and young adults will be paying less for their bus journeys after a new investment strategy was approved.
Economic support in the form of reduced bus fares was promised for South Yorkshire’s under-21s at a Mayoral Combined Authority (MCA) board meeting which discussed a new investment strategy for South Yorkshire this morning.
The strategy, which sees the utilisation of £860m of MCA funding to help support the region’s economy following the pandemic, promises an an 80p single bus fare for those under 21 in an attempt strengthen the ability of young people to access and connect to jobs and training opportunities.
Mayor of Sheffield City Region Dan Jarvis said: “This is a hugely significant moment for South Yorkshire. The proposals in this paper give us real fire power to unlock growth in the economy and to support our young people. I commend the work that members and officers have done to get us to this point.”
Set to last for a year beginning June 21, estimates put the cost of introducing the concession in the region of £6.7m.
Addressing the board meeting, Sheffield City Region Chief Executive Dr Dave Smith said: “Due to the disproportionate impact of the pandemic on the region’s young people it was felt necessary to apply additional targeting on a time-limited basis to support young people and young adults seeking to recover from the impact of the economy, on jobs and prospects.”
On a national level, 60 per cent of the reduction in pay rolled employees since March 2020 has been in people aged under 25, and the redundancy rate is much higher for people aged 16-24 according to the MCA’s report.
South Yorkshire’s investment strategy is also set to spend £340m on transport and environment, housing and infrastructure, education, skills and employability and business growth and recovery.