LEP welcomes Autumn Statement pledge to enhance powers of LEPs
In the much anticipated Autumn Statement, Chancellor George Osborne pledged there would be new funding for Local Enterprise Partnerships and from April 2015 money for transport, skills and housing would be put in a single pot that LEPs will be able to bid for. An extra £350m will also be put into the Regional Growth Fund.
In response to this announcement, Sheffield City Region LEP Chairman James Newman said,
“The Sheffield City Region LEP welcomes the Chancellor’s decision to expand the economic leadership role and funding on offer to LEPs.
“We completely agree with the overarching principle of localism – devolving powers and funding to local politicians and business leaders, who work together for the benefit of the City Region and Yorkshire, to prioritise decisions that will have the most significant impact on economic growth. This is critical to rebalancing the UK’s economy.
“We welcome with interest the decision for LEPs to lead the development of strategic local plans and look forward to gaining a better understanding of the scope of what Government has in mind.”