LONDON ENTERPRISE PANEL July 2012 Michelle Cuomo, Senior Manager Economic & Business Policy Unit

The London Enterprise Panel Background: October 2010, the Government invited the Mayor, London boroughs and business leaders to consider the case a London enterprise partnership. February 2011: approval for one partnership covering all of Greater London A shadow body – The LEP Advisory Panel –established to develop proposals for the Panels permanent basis including the establishment, remit, composition, legal basis/structure, together with proposals for any secretariat and other professional support 2012, the Mayor approved the London Enterprise Panel, including a Constitution, its remit and membership. First meeting took place on the 22 nd February, with the second meeting planned for 29 th May.

Legal, Finance and Governance Framework Legal basis: The London Enterprise Panel: Is a non-incorporated consultative and advisory body established by the Mayor under sections 30 and 34 of the GLA Act 1999; Has no separate, independent or corporate legal status; Must operate through the GLA which may be required to act as its accountable body for funding provided by Government; Will work within the legal, governance and financial framework that governs the GLA; Can advise the Mayor on the allocation of certain funding made available to it by him and/or Government;

Mayoral Approval or approval by GLA officer as delegated London Enterprise Panel Skills & Employment Working Group Housing Investment Group London Housing Board Investment Programme Board

The Members Boris Johnson, Mayor of London (co-Chair) Harvey McGrath, Chairman of Prudential plc (co-Chair) William Castell, Chairman Wellcome Trust Grant Hearn, Executive Chairman, Travelodge Nick Turner, Managing Director, Nomura Jack Morris, Chairman of Business Design Centre Group Stephen Howard, Chief Executive, Business in the Community Sue Terpilowski, Chairman London Policy Unit at Federation of Small Businesses Councillor Chris Roberts, Leader, Royal Borough of Greenwich Councillor Steve Reed, Leader, London Borough of Lambeth Councillor Michael White, Leader, London Borough of Havering Kit Malthouse, the Deputy Mayor for Regeneration, Growth and Enterprise (ex-officio member)

The Panels Role The Panels role is to advise the Mayor on actions to: Provide strategic investment to support private sector growth and employment in London; Promote enterprise and innovation; Promote the acquisition of skills for sustained employment in London; and Protect and enhance Londons competitiveness. All papers and terms of reference for the Panel can be found here:

London Growth Fund Bids for other LEP funding streams announced by Government Growth Innovation Fund City Skills Funding Business rate uplift in the Enterprise Zone/s in London Royal Docks Enterprise Zone – confirmed Battersea Enterprise Zone – not yet confirmed The Panels Role: Advise the Mayor on actions to provide strategic investment to support private sector growth and employment in London

Strategic Investment: The London Growth Fund £41m allocated to the LEP to unlock potential areas of growth in the capital: Revolving fund Projects of at least £5m Supported by a strong business case to deliver measurable growth Public/Private Partnerships The fund was tendered out in May and applications are currently being reviewed by the LEP

Strategic Investment cont: London Growing Places Fund An additional £70 million Growing Places Fund (GPF), was awarded to the London Enterprise Panel in the March Budget. Currently the LEP & GLA are discussing using the funds to: Invest in significant sectoral interventions with maximum impact London Investment Fund – with TfL SME Business support

Government funding and programmes to support SMEs has been nationalised and is directly managed by BIS - Solutions for Business (SfB), encompassing 13 products and services for SMEs, including Growth Accerator - aims to support start ups and high growth SMEs to address barriers to growth and support them to grow more rapidly. 3-year contract awarded to Grant Thornton to implement this. Assistance in negotiating the Mayors European Regional Development Fund (ERDF) allocations Advising the Mayor on all other actions to promote enterprise and innovation, given your private sector and wider experience. The Panels Role: Advise the Mayor on actions to promote enterprise and innovation in London

LEP Skills and Employment Working Group –only statutory working group Purpose: work to equip Londoners with the skills to enable them to compete for Londons jobs and to increase the number of Londoners in employment. First meeting of the group took place on the 2 nd May 2012 Follow up meeting on the 7 th June 2012 All agendas, minutes and public papers relating to the group can be found here: The Panels Role: Advising the Mayor on actions to promote the acquisition of skills for sustained employment in London