Building Globally Competitive Local Economies: the role of LEPs

Building globally-competitive local economies: the role of LEPs...: 

Building globally-competitive local economies: the role of LEPs... Mike Spicer Senior Policy Adviser British Chambers of Commerce 2 nd November 2011

What I will cover: 

What I will cover Responding to changes in the UK economic context – tapping into new sources of growth The new policy context: bottom-up, not top-down What must LEPs do? Focus on improving the business environment – for all businesses What can public policy do to help? Avoid overload and create real levers!

Economic context: responding to a changing model of growth: 

Economic context: responding to a changing model of growth

Policy context: bottom-up, not top-down: 

Policy context: bottom-up, not top-down Initiative and resources to invest in the local economy will increasing need to be found locally: Retained business rates and Tax Increment Financing Community Infrastructure Levy revenues Greater flexibility and more power over public spending at the local level But difficult choices about balancing short-term risks against prospect of long-term gains…

Business priorities for LEPs...: 

Business priorities for LEPs... Long-term strategy for enterprise growth Realistic appraisal Of long-term strengths and opportunities Small number of objectives

What can public policy do to support LEPs in delivering change? : 

What can public policy do to support LEPs in delivering change?

Avoid overload!: 

Avoid overload!

And create real levers for LEPs…: 

And create real levers for LEPs…

…to shape their local economies: 

…to shape their local economies

Summary: 

Summary Globally-competitive local economies invest in their own growth, mobilise local assets and capitalise on strengths Business investment and exports must be at the forefront of a lasting UK economic recovery Tapping into new opportunities means a focus on creating the right conditions for growth in the business base LEPs have a major role to play – but need clarity over powers that can be drawn from centre

Questions / Comments?: 

Questions / Comments? Mike Spicer, Senior Policy Adviser, BCC 020 7654 5809 m.spicer@britishchambers.org.uk