Question

To ask the Deputy Prime Minister, if he will make it his policy to permit Local Enterprise Partnership Growth Deals to fund revenue as well as capital spending; and if he will make a statement.

Through Growth Deals the Government has devolved over £6bn of funding to Local Enterprise Partnerships (LEPs) to invest in the key drivers of growth. While this investment is predominantly capital, up to £303m in 15-16 is revenue funding. LEPs have also secured wider freedoms and flexibilities, which in some cases include additional revenue funding, or more influence over revenue funding streams. This is the first round of Growth Deals and Government’s intention is to increase the flexibility of the Local Growth Fund in future years.