LEP Welcomes New Funding Recommendations
6th November 2012
The Greater Lincolnshire Local Enterprise Partnership has welcomed an economic review which calls for LEPs to be given more powers and budget responsibility.
A review by Lord Heseltine, called No Stone Unturned, recommends that LEPs be given powers to develop their own strategies and business plans and bid for funding from central Government. In his report, Lord Heseltine said LEPs could be key to stimulating regional growth, adding that once a LEP was allocated funds, it should be “free to implement its strategy, accountable to its local community but free from central government diktat.”
Ursula Lidbetter, Chair of the Greater Lincolnshire LEP, said: “The Greater Lincolnshire LEP welcomes Lord Heseltine’s call for a growth strategy with more help for local economies like Greater Lincolnshire.
“The main tenant of the report is that Government must now unleash the dynamic potential of our local economies. We welcome the view that more decision-making and resources should be devolved to Local Enterprise Partnerships like the Greater Lincolnshire LEP covering Lincolnshire, North Lincolnshire and North East Lincolnshire, and that we should develop our own tailored economic plans and compete for a share of a single national pot to support growth.
“We have developed a business plan for the next three years and identified a number of key priorities which include improving rail and road links, becoming a front runner in broadband and bringing research and development opportunities closer to our businesses. Increased funding from Government would certainly make it easier for us to achieve these aims.
“Lord Heseltine’s review is wide-ranging and makes many important recommendations, all of which have the potential to impact significantly on economic growth – which is by far the most urgent problem that needs to be dealt with at present. It is therefore most welcome and I sincerely hope that the government will consider it carefully and act upon it where feasible.”
The full report can be found at www.bis.gov.uk/heseltine-review
Notes to Editors:
- The Greater Lincolnshire Local Enterprise Partnership is a new body led by the private sector which aims to improve conditions for infrastructure and doing business in the Greater Lincolnshire area.
- One of the first LEPs to be established in the UK, the Greater Lincolnshire LEP covers a large geographical area with a population of over one million and a diverse range of industries, from ports and logistics to farming, tourism and engineering.
- It includes North and North-East Lincolnshire and is controlled by a LEP board made up of leading figures in the public and private sector.
- For more information about the Greater Lincolnshire LEP please contact Ruth Carver or Carolyn Tuscher at the LEP Secretariat on 01522 550515, or visit www.greaterlincolnshirelep.co.uk