BUSINESS chiefs in the South are throwing their backing behind plans to devolve more powers to a "Southern Powerhouse".

The Solent Local Enterprise Partnership (LEP) is backing the proposals being put forward by all 15 of Hampshire and the Isle of Wight's council leaders.

They have signed a formal bid to the Government to seize power over 100 per cent of business rates and control over spending on transport, skills and health and social care.

As previously revealed in the Daily Echo, the formal bid and a "prospectus" of proposals was sent to Secretary of State for Communities and Local Government Greg Clark last week and the leaders hope to hear if it has been successful by the time of the Chancellor's Autumn Statement in late November.

If approved the plans would see all of Hampshire and the Isle of Wight represented by a new combined authority that would feature all of the council's leaders and oversee how funding currently coordinated by the Government is spent.

The Solent LEP, which could coordinate some of the new work done to boost skills, jobs and research in the county, is backing the plans alongside the Enterprise M3 LEP and the New Forest and South Downs National Park Authorities.

Solent LEP chairman Gary Jeffries said: "Devolution represents a fantastic opportunity for the local area to build on the progress we have made through our Solent Growth Deal and secure the resources and powers we need locally to increase productivity and growth. This prospectus represents the start of a process to agree a deal with Government.

"As negotiations progress over the coming months, the LEP will be emphasising the need to ensure any deal works for our local businesses and supports the development of a highly skilled workforce, increases innovation through our Universities and business base, delivers additional housing, establishes a modern transport system and improves our digital infrastructure."

Hampshire is among more than 30 councils and county areas across the UK that are considering a devolution bid or have already handed one in.

They are looking to follow the example of the Great Manchester Combined Authority which was formed in 2011 although is still at an early stage, and is set to be granted even more powers after a directly-elected mayor is installed.

Hampshire's council leaders say the plans could lead to an extra £3billion being brought into the UK's economy every year, and would provide more support for local businesses, research and cutting-edge marine technology in particular and plans to create an extra 1,000 apprenticeships every year as well as creating new jobs.