The news has been awash this week with announcements regarding the new Local Enterprise Partnerships (LEPs) which the government have announced will replace Regional Development Agencies.
The Business, Innovation and Skills Committee have announced that its first inquiry will be into the new partnerships. The inquiry will consider the functions of the new Local Enterprise Partnerships, ensuring value for money and the legislative framework for converting RDAs to LEPs. In addition the Department for Business, Innovation and Skills are running a consultation on the £1bn Regional Growth Fund which will “provide support for projects that offer significant potential for sustainable economic growth and can create new private sector employment. The fund will particularly help areas and communities currently dependent on the public sector make the transition to private sector led growth and prosperity.”
This has been followed by an announcement today by the Federation for Small Businesses that they are to become a key partner in the LEPs following a meeting between them and the Department for Communities and Local Government earlier this week, and that Lord Heseltine will chair the Independent Approval Panel for the Regional Growth Fund.
The progress being made by local authorities towards the formation of LEPs is being monitored by the Regeneration and Renewal blog saying that many areas wishing to join together are providing joint responses to the government consultation.
We await more announcements and speculation over the coming weeks prior to the government’s deadline for responses by September 6th.
