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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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london enterprise panel

LONDON ENTERPRISE PANEL

July 2012

Michelle Cuomo, Senior Manager

Economic & Business Policy Unit

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’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.
legal finance and governance framework
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;
the members
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)
the panel s role
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
slide7

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
strategic investment the london growth fund
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
strategic investment cont london growing places fund
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
slide10

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.
slide11

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