1. Welfare to Work UK Convention David Frost CBE Chairman – LEP Network

2. Localism Much of my working life on this Agenda Much of my working life on this Agenda Chambers of Commerce – defined by Chambers of Commerce – defined by LEPs LEPs Latest in a string of initiatives to encourage local growth: LENs/ TECs/CCTEs/City Challenge/ RDAs Latest in a string of initiatives to encourage local growth: LENs/ TECs/CCTEs/City Challenge/ RDAs Real Localism – or local initiatives signed off by Whitehall and accountable to them? Real Localism – or local initiatives signed off by Whitehall and accountable to them?

3. What are LEPs for Many of the Barriers to growth are local in nature: Infrastructure Links/ frustration with Planning and development control/ regulatory action/ skills and employability Many of the Barriers to growth are local in nature: Infrastructure Links/ frustration with Planning and development control/ regulatory action/ skills and employability LEPs are the focal point of engagement between business and local authorities on the practical measures needed to build successful local economies LEPs are the focal point of engagement between business and local authorities on the practical measures needed to build successful local economies

4. Common Themes across LEPs A real passion for economic development A real passion for economic development A desire to make each LEP area the “best place to do business” A desire to make each LEP area the “best place to do business” An understanding of the significant socio-economic problems that are faced in many local economies An understanding of the significant socio-economic problems that are faced in many local economies That these problems need joined up action, at the heart of which is strong and real partnership between the private and public sector That these problems need joined up action, at the heart of which is strong and real partnership between the private and public sector They are not replacements for RDAs They are not replacements for RDAs Strengths: Common Vision/ Shared Priorities/Influence Strengths: Common Vision/ Shared Priorities/Influence

5. My view of what LEPs need to do and are doing A realistic assessment of the area: A realistic assessment of the area: –Competitive advantage –What are the key 200+/- companies and other bodies that are driving the economy – a thorough understanding of their dynamics  How do they see their future over the next 5 years  What are the local barriers to growth –What can a LEP realistically do to drive the economy? –A sectoral focus

6. Heseltine – The game changer LEPs set up 2 years ago and were ticking along LEPs set up 2 years ago and were ticking along Oct 12 – “No stone unturned” Oct 12 – “No stone unturned” –Many recommendations placing LEPs centre stage, but key:  LEPs to lead the development of a long term strategy and business plan for their area – to be used to bid for economic growth funds –This was confirmed when Ministers wrote to LEP Chairs following the Autumn Statement.

7. The Single Pot – The Single Local Growth Fund Announced in late June Announced in late June £2bn for 2015/16 – A reasonable start £2bn for 2015/16 – A reasonable start Capital £1.45bn Capital £1.45bn Guidance now being developed Guidance now being developed –How much allocated by formula vs competition –How much central clarity vs guidance in developing the Local Growth Deal

8. Localism Hopefully we are on the cusp of a real change, an understanding that Central Government cannot do everything Hopefully we are on the cusp of a real change, an understanding that Central Government cannot do everything The SLGF is a real start The SLGF is a real start Let local initiatives flourish – some LEPs may fail Let local initiatives flourish – some LEPs may fail LEPs will have to show Accountability/ Visibility and that they can make a real difference LEPs will have to show Accountability/ Visibility and that they can make a real difference Skills and employability are at the heart of their agenda Skills and employability are at the heart of their agenda Get involved! Get involved!