GREATER Manchester Police and Crime Commissioner Tony Lloyd and Wigan Council Leader Sir Peter Smith have both announced their intentions to run for interim mayor - a new position formed following the region's devolution deal with Chancellor George Osborne - read here.

Lord Smith is considered to be the favourite for interim role

The temporary position is seen as the next major step towards 'DevoManc' which will see local politicians take control of billions of pounds of public money from Whitehall, including Greater Manchester's £6 billion NHS budget (or the MHS - clever).

The interim mayor will take on the role of Manchester Mayor from June 2015 until the full mayoral election in May 2017. The eventual elected mayor will oversee the region's housing, transport, social care and police budgets (as Tony Lloyd's current PCC position will be absorbed into the role of the newly elected mayor).

Leaders from the ten councils which make up the Greater Manchester Combined Authority (GMCA) will choose between Lloyd and Lord Smith this May.

.PCC Tony Lloyd

Lord Smith - a member of the Wigan Council since 1978 and current Chairman of the Greater Manchester Combined Authority - has stated that should he be selected for mayor, he would relinquish his role as current leader of Wigan Council. Smith said he would be standing on his 'record in local governance and experience as Chair of the GMCA'.

Tony Lloyd - a former Minister of State at the Foreign Office and PCC since 2012 - however, would continue on as both PCC and interim mayor, but stated at a recent press conference his intention to only claim one salary while combining the roles. "I will work to ensure that the benefits of economic success can be felt right across Greater Manchester," said Lloyd. “We must ensure that we have a plan to grow the economy across all ten boroughs and cities in Greater Manchester so that every community sees devolution will make a real difference to their lives.

"We can only truly succeed when every community has a stake in the future which is why devolution must not stop at the GM level. If successful I will work to ensure devolution continues from that level to the districts."

Lord Smith responded to Lloyd's press conference by stating he would 'not be holding press conferences at public expense' to promote his personal candidature.

Lord Smith is considered to be the favourite for the interim role.

For more information on the GMCA devolution agreement see here.