The Greater Lincolnshire Local Enterprise Partnership has welcomed news that the Government has accepted almost all of the recommendations made by Lord Heseltine in his review, No Stone Unturned.
The Government’s endorsement means more powers will be handed to LEPs to control budgets and make choices on a local level that will benefit local economies. The review, published in October, recommended that LEPs be given powers to develop their own growth business plans and bid for funding from central Government. More details will be revealed in the Spending Review.
The Government is now expected to allocate all LEPs, including the Greater Lincolnshire LEP, which lobbies to improve the conditions for doing business and boost the economy, up to £250,000 of new public funding in 2013/14 and 2014/15 specifically to devise its local economic strategy, known as a Growth Plan
David Dexter, Deputy Chair of the Greater Lincolnshire LEP, said: “When these ideas were first circulated we welcomed the view that more decision-making and resources should be devolved to Local Enterprise Partnerships like the Greater Lincolnshire LEP.
“Lincolnshire, North Lincolnshire and North East Lincolnshire can only benefit from a LEP which has the power and responsibility to develop its own tailored economic plans and compete for a share in a single national pot to support growth.
“We have already started work on several of the things the Government is calling for, such as developing a plan for the coming years and identifying key costed priorities like improving rail and road links, becoming a front runner in broadband and bringing research and development opportunities closer to our businesses.
“The changes also call for the LEP to have a personal association with ministers and permanent secretaries, which can only help to strengthen our voice as we lobby to improve the conditions for doing business.
“While the Government will provide support, it firmly believes that LEPs should remain small, responsive, business-led organisations and avoid becoming local bureaucracies – this is something we are very keen to uphold.”
The changes will see the LEP working closer than ever before with its public sector partners and Local Growth Teams which will help join up the LEP with Government and local partners to facilitate, identify and realise economic opportunities.
The LEP will also have the chance to bid for money to fund infrastructure work through the Public Works Loan Board Rate (PWLB) from November 2013. Each LEP will be asked to nominate a suitable project, with the total borrowing capped at £1.5 billion, although full details are to be announced at a later date.
“The Government’s response to the Heseltine report has also brought up new things for us to think about,” said David. “There is great change afoot for the LEP, and we’ll be keeping you up-to-date with all of it as we move forward.”
The full Heseltine report can be found at www.bis.gov.uk/heseltine-review. The Government’s response to the report can be found here.