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LONDON ENTERPRISE PANEL

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.

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LONDON ENTERPRISE PANEL

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

  2. 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’s “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 22nd February, with the second meeting planned for 29th May.

  3. 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;

  4. 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)

  5. The Panel’s Role • 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: • http://www.london.gov.uk/business-economy/working-partnership/lep

  6. 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 • 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

  7. 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

  8. 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

  9. 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 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 Mayor’s 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.

  10. 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 –only statutory 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 • Follow up meeting on the 7th June 2012 • All agenda’s, minutes and public papers relating to the group can be found here: • www.london.gov.uk/moderngov/ieListMeetings.aspx?CId=253

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