The government has announced a Single Local Growth Fund for Local Enterprise Partnerships (LEPs) as part of its reaction to the Heseltine review.
The fund is intended to encourage LEPs to focus on generating growth. It will be operational by April 2015 and further details will be announced in June 2013.
The Government accepted 81 of the review’s 89 recommendations in its formal response published this week.
The response outlines government plans to speed up procurement by introducing reporting lines from the government’s chief procurement officer to commercial directors. It also outlines existing measures to speed up the planning process and increase infrastructure spending.
The Heseltine Review, titled “No Stone Unturned” was published in November 2012. It reviewed all parts of government policy that affected economic growth.