1.         Support the outline "Our New Deal for a Greater Lancashire" at Appendix 1 as the initial draft basis for further discussion and development of a possible County Deal for the Lancashire area;

2.         Agree the principles of governance as set out in Appendix 2 for any future deal; an

3.         Agree that the Leader of the Council continues to work with Lancashire Leaders in line with the principles agreed in recommendations 1 and 2 above, and note that any formal proposals will require approval by Full Council at the appropriate time.