If you ask people to name their favourite counties then Cornwall, Devon, Somerset, Dorset, Wiltshire and Gloucestershire will be right up there in everybody’s list of favourites but based more on quality of life rather than economic prospects.
As a region the South West will be hard hit by the public sector cull so it is good news that the UK Government has earmarked £1 billion to help regional businesses most affected by public spending cuts and the abolition of Regional Development Agencies.
Local Enterprise Partnerships (LEPs), (the RDA’s replacement) will be aimed at providing local strategic leadership and creating the right conditions for businesses to flourish.
“We want a structure that reflects the genuine interests and commitment of enterprise, local councils and other stakeholders like universities and colleges,” says Business Secretary Vince Cable.
The Government says it foresees LEPs involved in planning and housing, local transport and infrastructure, employment, enterprise and supporting business start-ups.
But other roles that have been carried out by RDAs such as inward investment, sector leadership, business support, innovation and access to finance will be led nationally.
It is not yet known what proportion of the £1 billion will be allocated to the South West.
Author : Ian Macdonald
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