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£2bn funding agreed for English enterprise partnerships

by on July 10, 2014

The Government has confirmed details of £2bn of funding to be provided to local enterprise partnerships (LEPs) across England for infrastructure and housing development under the Local Growth Deals scheme.


England’s 39 LEPs, partnerships between local authorities and businesses, have decided on priorities for investment in their areas and have each agreed deals with the Government to receive a share of the funding towards specific projects in 2015/16.

Additional funding has been confirmed in some areas towards long-term projects starting in 2016 and beyond.
Ministers expect the investment to be matched by twice as much funding from local sources and to result in work on “more than 150 roads, 150 housing developments and 20 stations”.

The London Enterprise Panel secured £151.5m in funding for 2015/16, including increases to the Housing Revenue Account borrowing limit to help deliver affordable homes in boroughs including Tower Hamlets, Westminster and Hackney.

The deal for the Leeds City Region includes commitments towards housing growth in key areas including: urban extensions in East Leeds and at the York Central regeneration site; a bridge to improve access to housing land in Skipton; and site remediation at the City Fields site in Wakefield.

The deal for Greater Birmingham and Solihull focuses on maximising the benefits from high speed rail, but also includes a £12.5m commitment towards unblocking small housing sites, improving access to enable the growth of a proposed urban extension near Sutton Coldfield and developing three brownfield sites in East Staffordshire.

In a separate but related development the UK Government has agreed its commitment to the Glasgow and Clyde Valley City Deal, which will boost the local economy and create new jobs.

This has the potential to be the largest such deal ever agreed in the UK and commits the UK administration to providing £25m annually over a 20-year period.

The City Deal’s flagship proposal will seek to establish a £1.13bn Glasgow Infrastructure Fund, which will be spent on improving the area’s transport network such as roads and rail. It will also be used to unlock the development of new employment sites, bringing further private sector investment to the city.

Read the Department for Communities and Local Government news release.

 

Due to technical issues this week’s news stories are published on the Director’s Blog. They will be published on the Planning Portal in due course.

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