LEP Network Responds to Autumn Statement
LEP Network Chair Mark Bretton responded to today's Autumn Statement from the Chancellor:
“The critical takeaway of the Autumn Statement for business led LEPs and the local firms they support is the need to drive economic growth amid what the OBR has officially confirmed as a recession. LEP business leaders are at the coal face of how this impacts business, they already lead in their areas on the three growth priorities identified by the Chancellor: low carbon economic growth, increasing vital infrastructure, and working with universities to turn innovation into viable businesses by refocussing the Investment Zones programme.
"On the latter, LEPs have already developed world leading clusters, including life sciences, space, digital, and robotics – and are ahead of the curve in building these clusters in partnership with universities and generating global investment - whether it’s helping Rolls Royce deliver the Small Modular Reactor sites that will help meet our net zero targets, working with local firms and the supply chain on Sizewell C nuclear power station, or brokering innovative clusters for the space, digital, or biotech sectors. For this reason, as the Chancellor said, local LEP leaders look forward to working with Government to consider how best to identify and support these clusters, and offering our expertise to Sir Patrick Vallance as he looks to better exploit and introduce emerging technologies.
"LEPs are already identifying vital economic growth potential and we look forward to working with government to build future growth, but we can’t do this on thin air, LEPs need funding stability to support the hundreds of projects like those above.”
A copy of the Autumn Statement is available here.