A Minister should be given responsibility for overseeing Local Enterprise Partnerships and the Government must commit to long term financial backing for LEPs, a Commons committee has suggested.
The Business, Innovation and Skills Committee also said LEPs across the country could not fulfil their regeneration role without the “certainty and security” of a five-year core funding deal from Whitehall.
Committee chairman Adrian Bailey, the MP for West Bromwich West, said: “LEPs help drive the local economic growth on which national growth relies.
“They are expected to deliver long-term growth. To do this they require the confidence to make long-term investments. The current funding commitments fail to provide this. We urge the Government to support LEPs in delivering long-term growth by committing to the levels of their core funding for the five years from 2015.”
The committee is urging the Government to move away from funding LEPs on a “one size-fits-all basis” towards