Growth Deals worth billions of pounds offered to local leaders

England’s 30 Local Enterprise Partnerships will be able to apply for a share of £1.8Bn in the latest round of Growth Deals.

Local leaders wanting to boost skills, support business and build more homes, will be offered the chance to apply for the latest round of Growth Deals, Community Secretary Greg Clark said yesterday.

Yesterday, he met with Chinese regional leaders to highlight the opportunities available across the country, saying that the deals would boost the chances of areas securing significant inward investment from overseas.

England’s 39 Local Enterprise Partnerships are made up council leaders and business representatives who will be able to apply for part of the funding to boost local economic growth and create jobs. The funding comes as part of the government’s £12Bn Local Growth Fund, which is being used to support local projects. The government has made clear its commitment to giving communities the power to shape the future development of their area.

Communities Secretary Greg Clark said: “We’re completely changing the way business is done in this country, ending the top-down, ‘Whitehall knows best’ mentality of the past and instead putting power back where it belongs – in the hands of local communities.

“With this offer of a Growth Deal to communities across the country, we’re backing this devolution revolution with billions of pounds, releasing vital investment in projects across the country to boost local skills, deliver new homes and create jobs.”

In last week’s Budget, five new and extended devolution deals which allocate funding support from the Local Growth fund were made, which transfer billions of pounds and extensive powers from Whitehall to cities and counties, to start work on major infrastructure and housing projects.

This includes new devolution deals with councils in East Anglia, Greater Lincolnshire and the West of England, extended devolution deals with Greater Manchester and the Liverpool City Region and £475M for large local transport projects.

A total of £7.7Bn of the £12Bn Local Growth Fund has been allocated to more than 900 projects across England to build vital infrastructure, improve skills and create thousands of jobs.

 

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