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Alison Jarrett Assistant Director Finance – Development and Culture Birmingham City Council

Alison Jarrett Assistant Director Finance – Development and Culture Birmingham City Council. Investment through austerity or the answer’s jobs, now what’s the question?. The Jaws of Doom. The Heseltine Hope. No Stone Unturned – headlines. 81 Accepted Single Local Growth Fund From 2014

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Alison Jarrett Assistant Director Finance – Development and Culture Birmingham City Council

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  1. Alison JarrettAssistant Director Finance – Development and CultureBirmingham City Council Investment through austerity or the answer’s jobs, now what’s the question?

  2. The Jaws of Doom

  3. The Heseltine Hope

  4. No Stone Unturned – headlines • 81 Accepted • Single Local Growth Fund • From 2014 • Rejected • Rejected • Seeking legislation • 89 Recommendations • Big ideas…. • Single Pot of funding • Localise EU Funding • Legal status for Chambers • Unitary local government • Conurbation Mayors

  5. Be careful what you wish for…

  6. Local Enterprise Partnership 2020 Targets • 100,000 new jobs • £8.25bn increase in GVA • Key sectors: • Advanced Manufacturing • Business & Financial Services • Clinical research & Med-tech • Creative & Digital • Low Carbon technology • Research & Development • Transport & Building Technologies • Build a world class workforce

  7. Enterprise Zone Enterprise Zone SnowHill Paradise & Westside Eastside & Science Park WholesaleMarket

  8. Enterprise Zone Impact • 40,000 new jobs across range of growth sectors • Floor Space • By 2015, 97,000 sq.m of new development • Once complete 1.3m sq.m including 700,000 sq.m office/commercial • The re-use of 3.8 hectares of buildings/land • £2.bn+ GVA per annum

  9. Example current investments Example current investments • New Street Station £ 630m • Midland Metro £ 125m • Airport expansion £ 125m • Highway/Lighting PFI £ 2,700m • Library of Birmingham £ 190m • Green housing retrofit £ 1,500m • Eastside Park £ 60m • Enterprise Zone £ 875m • Digital infrastructure £ 10m • High Speed 2 terminal ? £ 1,000m

  10. City Deal 2 – exploring the following… • Transport • 10 year block funding for majors • Exemption from Council Tax levy • TfL type powers • Skills • Delegation of SFA responsibilities • Housing • Lifting the borrowing cap • Employment • Local management of ‘Work Programme’ • Opportunity to pilot ‘Gainshare’ scheme (earn-back) • Whole place pilot – opportunity for ‘neighbourhood’ focussed approach

  11. What else is in the armoury? RGF FINANCE BIRMINGHAM PRIVATE INVESTMENT GAINSHARE AIRPORT PASSENGER DUTY ASSETS – SALE AND LEASEBACK SALE OR RENTAL OF ASSETS MOBILE INVESTMENT FUND

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