Purpose

In the context of Government announcements
about the future of LEPs, to consider arrangements for carrying out
economic development functions in Buckinghamshire

Content

Cabinet received a report setting out the
proposed arrangements for the transfer of the Bucks Local
Enterprise Partnership (LEP) functions to Buckinghamshire Council,
and was asked to agree the approach within Buckinghamshire, in
light of the Government’s decision to transfer the economic
growth and business representation functions of LEPs to local
authorities.
 
Following a period of consultation earlier in
2023, the Government had confirmed in August its decision to end
Local Enterprise Partnership (LEP) core funding from 2024/25 and
transfer current LEP functions to local government in the interests
of supporting local leadership, establishing more joined up
delivery, greater efficiency and
increased clarity for the business community.  Councils would receive transition funding in
2024/25 (also funding for the growth hub) to support them to take
on these functions, with all future funding to be set out at the
next Spending Review.
 
The Government expected seamless Growth Hub
provision across the area, that would continue to support
businesses and to provide a convening point for broader business
support provision. The current level and duration of funding to be
received by Councils was not known at present and it was unclear
when the level of funding would be confirmed.  The Government expected that all decisions on the
transfer and future management of assets would be taken by the LEP
and its Accountable Body by March 2024. Further guidance was
expected by January 2024. However, in general, local agreement was
expected, with government departments becoming directly involved
only with those areas that could not reach agreement. Following a
series of discussions locally, the Cabinet report set out the key
principles and proposals that have been developed to achieve the
transfer in Buckinghamshire.
 
RESOLVED –
 
That the proposed
arrangements for the delivery of the Local Enterprise Partnership
functions within Buckinghamshire, as set out at Section 4 of the
Cabinet report, be AGREED.