Government unveils how £1bn Growth Deals funding will be spent

Thirty-nine Local Enterprise Partnerships (LEPs) around the country will receive government funding to expand the Growth Deals programme. The funding will be devolved from central government to local authorities, businesses, colleges and universities, with a view to create new jobs, train young people and launch infrastructure projects including homebuilding.

“Growth Deals are about backing local people and investing in the infrastructure, housing and skills that will drive forward local economies, create more jobs and opportunities for hardworking people and supercharge all parts of our country,” says Prime Minister David Cameron.

In the 2014 Autumn Statement, the government announced the £1bn programme. Today’s announcement sets out how the 39 LEPs intend to deliver with their additional allocation. 

As part of the process for agreeing the expansions to the Growth Deals, plans for using this funding were assessed according to their ambition and rationale, value for money and deliverability.

In 2015 to 2016, £1.1bn of the fund was already committed, principally to local transport projects. This left £930 million to be allocated competitively in 2015 to 2016. Plans for using this funding were assessed according to their ambition and rationale, value for money and deliverability.

“A quiet revolution is underway in regions across the country and Growth Deals signal the death of the culture where Whitehall calls the shots. I’ve seen for myself the difference it makes to give local areas real power over skills, over business support, and over infrastructure spending,” adds Deputy Prime Minister Nick Clegg.

“Growth Deals help create a stronger economy and a fairer society by boosting local economies, and providing more jobs, better transport and affordable homes.”

You can view an interactive map of how the LEPs will spend the £1bn here.

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