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A Strategic Economic Plan for the Humber

A Strategic Economic Plan for the Humber. Overview. An overarching economic strategy for the Humber Forms the basis of a Growth Deal with Government Contains key local programmes and projects LEPs with strong SEPs will: Earn local accountability

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A Strategic Economic Plan for the Humber

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  1. A Strategic Economic Plan for the Humber

  2. Overview • An overarching economic strategy for the Humber • Forms the basis of a Growth Deal with Government • Contains key local programmes and projects • LEPs with strong SEPs will: • Earn local accountability • Be able to negotiate wider powers and influence • Earn a greater share of the Local Growth Fund • No set format, in line with the principles of localism

  3. Overview European Structural and Investment Fund Strategy City Deal proposals Strategic Economic Plan for the Humber Growth Deal with Government Lifting the Lid (the Humber LEP’s Skills Commission) Plan for the Humber (the LEP’s five year growth priorities)

  4. Local Growth Fund • £2bn for 2015/16, with a minimum of £2bn p.a. for each of the following five years • Funding for 2015/16 must be spent in year (no carry over) • Drawn from transport, skills and housing sources • Plus £100m of RGF

  5. Local Growth Fund “In deciding the distribution of Local Growth Funds, the basis for the Government’s assessment will be the area’s whole strategy for local growth and its use of all resources and levers – not just the area’s call on Local Growth Fund resources.”

  6. Expected contents

  7. Timeline October 2013 Progress update to Government December 2013 First draft of the SEP submitted January 2014 Feedback from Government March 2014 Final version of the SEP submitted July 2014 Growth Deal negotiations completed April 2015 Growth Deals implemented

  8. Key tasks in developing the SEP

  9. Questions and comment

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