• Swindon & Wiltshire Economy
• Thursday March 28 2024
• Author Name: Peter Davison

Berkshire LEP pledges ‘business as usual’ as government pulls plug on Local Enterprise Partnerships

Berkshire Local Enterprise Partnership has promised it is ‘business as usual’ as the government pulls the plug on LEP funding.

In the 2023 Spring Budget, chancellor Jeremy Hunt announced he would be withdrawing government support for LEPs and returning the funding to local councils.

In neighbouring Wiltshire, that decision will see the functions of the LEP delivered by County Hall from April 1.

In contrast, Berkshire’s six local councils have commissioned the LEP to continue to support development of a new strategic economic plan for Berkshire, as well as to manage its legacy programme of growth deal capital investments.

‘A catalyst for regional growth and prosperity’

Bob Beveridge, chairman of Berkshire LEP, said: “Berkshire LEP was set up as a company limited by guarantee, so in many ways there is no change in terms of company structure or our close relationship with our partner local authorities.

“We are delighted to affirm our ongoing commitment to the Berkshire region and its economic advancement.

“Our unique role remains as a catalyst for regional growth and prosperity, empowering local businesses with valuable advice, financial resources, and future-ready skills.”

Since its inception in December 2011, Berkshire LEP has been instrumental in delivering £204 million of capital investments across 97 infrastructure projects in Berkshire, and leveraged an additional £125 million of private investment.

Its Growth Hub contract has supported over 7,878 local businesses; establishing the Berkshire Funding Escalator which to date has invested £19.42 million in 97 businesses, created or safeguarded 1395 jobs and leveraged £56.91 million private investment.

And this year the LEP has delivered a £1.5 million Skills Bootcamps programme to over 300 individuals to meet local skills needs and is ranked 3rd in the Skills Bootcamps delivery league table.

Alison Webster, CEO of Berkshire LEP, said: We remain committed to delivering a diverse array of initiatives tailored to the needs and aspirations of Berkshire.

“Our established structures and provisions, including the Berkshire Growth Hub, Berkshire Careers Hub, and Skills Bootcamps, will continue to serve as vital resources for our community and we are confident our stakeholders and those businesses supported by Berkshire LEP will see no disruption to our services.

“As Berkshire LEP transitions into this new phase we are extremely well-positioned to continue to foster sustainable economic growth, driving innovation, and supporting businesses to thrive in Berkshire.”