LONDON ENTERPRISE PANEL September 2012 Michael Heanue Principal Policy Officer Good morning I am ….. I work for the ……., EBPU I’m going to talk about the role of the London Enterprise Panel

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 Panel January 2012 , the Mayor approved the London Enterprise Panel, including a Constitution, its remit and membership. First meeting took place on the 22nd February. October 2010, the Government invited the Mayor, London boroughs and business leaders to consider the case a London enterprise partnership Initially there was resistance from across the 33 boroughs, which resulted in a quite time lag occurring before a decision could be made. In February 2011 the Government approved the overarching proposal put forward by the Mayor and London Councils for a pan-London LEP. A LEP advisory panel then set to work on developing the pan-regional proposal This involved Looking at the establishment, remit, composition, legal basis/structure for such a group, together with proposals for any secretariat and other professional support” The proposal was subsequently signed off by the Mayor at the beginning of this year. The first meeting of the London Enterprise Panel took place shortly after in February with future meetings scheduled in on a quarterly basis. The latest meeting of the group took place this Wednesday at the offices of Newham Council in the heart of the regeneration zone over at the Royal Docks in East London.

The Members Kit Malthouse, Deputy Mayor for Business & Enterprise (co-Chair) Harvey McGrath, Former Chairman of the London Development Agency and Prudential plc (co-Chair) Sir William Castell, Chairman Wellcome Trust Grant Hearn, Executive Chairman, Travelodge Nick Turner, Managing Director, Nomura Jack Morris OBE, 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 Here’s the list of members. As you can see these were drawn from across a wide-range of business sectors, and selected by an application process following the publication of ads in the national press. The group is join t with representation from London Councils, hence the elected leaders from three of the London boroughs. Three members, Harvey McGrath, Grant Hearn and Councillor Chris Robert were all on the LEP advisory panel that I mentioned on the previous slide.

The Panel’s Role www.london.gov.uk/londonenterprisepanel The Panel’s 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 London’s competitiveness. All papers and terms of reference for the Panel can be found here: www.london.gov.uk/londonenterprisepanel JI: As outlined in the Panel’s Constitution, the Panel’s role has been split into four key areas of activity, the first of which is…

The Panel’s Role: Advise the Mayor on actions to provide strategic investment to support private sector growth and employment in London London Growth Fund Bids for other LEP funding streams announced by Government Growing Places Fund City Skills Funding Business rate uplift in the Enterprise Zone/s in London Royal Docks Enterprise Zone “Advising the Mayor on actions to provide strategic investment to support private sector growth and employment in London” Some examples of what this might look like, would include The London Growth Fund and the Growing Places find, which have a combined value of £111 million. Other funding streams announced by Government which have, so far been on a fairly ad-hoc basis; among these is the City Skills Fund awarded from BIS and worth £500k, I’ll come on to this in more detail shortly There are also Uplifts in Business Rate income from the Enterprise Zones in the Royal Docks, which with foreign inward investment could see the LEP pulling in many extra millions for reinvestment across the region.

The Panel’s Role: Advise the Mayor on actions to promote enterprise and innovation in London 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 Accelerator - 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 Mayor’s European Regional Development Fund (ERDF) allocations Advising the Mayor on all other actions to promote enterprise and innovation The next key strand of the Panel’s role is… “Advising the Mayor on actions to promote enterprise and innovation in London” Funding for SMEs has been nationalised but GLA officers maintain a dialogue with BIS to ensure the London element of programmes (such as the Growth Accelerator – that’s coaching support for SMEs) are closely aligned with the Panel and the Mayor’s priorities;

The Panel’s Role: Advising the Mayor on actions to promote the acquisition of skills for sustained employment in London LEP Skills and Employment Working Group Purpose: work to equip Londoners with the skills to enable them to compete for London’s jobs and to increase the number of Londoners in employment First meeting of the group took place on the 2nd May 2012 All agendas, minutes and public papers relating to the group can be found here: www.london.gov.uk/londonenterprisepanel Number 3 “Advising the Mayor on actions to promote the acquisition of skills for sustained employment in London” This is where the Skills & Employment Working Group comes in, which I’m more directly involved in, and which I’ll cover in a little more detail shortly

Protect and enhance competitiveness These will work together to address the fourth priority: Competitveness. The graph here, demonstating the gap seen between London’s employment rate and that of the rest of the UK serves as a stark reminder why as to why this priority remains key. Source: Office for National Statistics

London Enterprise Panel: Working Groups The proposed themes for working groups Skills & Employment SMEs Science and technology Infrastructure Some of the £111 million will be spread across the four proposed working groups, which are: Skills & Employment SMEs Science and technology Infrastructure In the case of infrastructure, this will be to the tune of £37 m, which TFL is set to match by up to £300m.

Skills & Employment Working Group Chair: Grant Hearn, Vice-Chair: Jack Morris, Chairman of Business Design Centre Group Members: Emma Stuart - Women Like us on behalf of LVSC Ian Ashman – Chair, London Association of Colleges Ian Mulheirn - Social Market Foundation Nigel Carrington – Rector, University of the Arts Cllr Steve Reed - London Councils Roy O'Shaughnessy – Chief Executive, CDG & Work Programme Sue Terpilowski, Chairman London Policy Unit at Federation of Small Businesses John-Paul Marks – Department of Work & Pensions/Job Centre Plus Paul Whitmore,- Commercial Director Morgan Sindall Group Plc Like the Enterprise Panel, membership of the working group is drawn from a wide range of organisations, including the business world as well as skills and employment experts.

Skills & Employment priorities indentified so far Increasing levels of employer engagement Enhancing user pathway and support Providing the right skills for the right jobs Leveraging the data to develop the London Skills & Employment Observatory When the group first met, they agreed the following Employment and Skills priority areas to focus on. Increasing levels of employer engagement - we need more on board Enhancing user pathway and support – is the careers advice offer right? Leveraging the data to develop the London Skills and Employment Observatory – use the evidence that’s there Providing the right skills for the right jobs – is provision responsive to employer needs, now and in the future?

Supporting the Skills & Employment priorities: Key Outputs for 2012 Publication of a Skills & Employment Plan for London by March 2013; In developing this, research is taking place in the following areas Labour Market Forecasting Review of the current skills and employment system for those in and out of work; Assessing capacity of the system to respond to future skills and employment needs; A review of the London Skills & Employment Observatory with the aim of redeveloping it to make it user-friendly for schools, colleges, employers and individuals; Part-time working Skills and Employement Plan a condition of the CSF funding. In developing this – which will form part of a wider jobs and growth plan - research is taking place in the following areas Labour Market Forecasting – GLA Economics Review of the current skills and employment system for those in and out of work; Assessing capacity of the system to respond to future skills and employment needs; A review of the London Skills & Employment Observatory with the aim of redeveloping it to make it user-friendly for schools, colleges, employers and individuals; Part-time working

Next Steps October/November: Launch of business support products with BIS New LEP sub-groups agreed Decision on funding for Super Connected Cities - £25 m for London November/ December: Series of sub-regional LEP stakeholder engagement events Skills and employment/LMF research completed and timetable for next steps agreed January/February: Consultation on the LEP’s jobs and growth strategy for London begins April 2012: Publication of the LEP’s overall strategy for delivery over the following three years

Questions?