West Yorkshire Mayor Tracy Brabin said: “This investment in the North’s transport network will help us unleash our ambitious plans to grow the economy, boost living standards and put more money in people’s pockets.
“The government’s commitment to a mass transit system for West Yorkshire is a game changer and will see trams back on the streets of Leeds and Bradford for the first time in 75 years.
“We know that you can’t boost the economy without the right infrastructure in place to get people to work and education – this will help unlock investment and jobs.
“We have heard the Prime Minster’s challenge to speed up delivery of key projects and we will rise to that with full confidence.”