Funding. People & Skills Projects - 22 November 2017

D2N2 reacts to second Budget of 2017

The D2N2 Local Enterprise Partnership has reacted to today’s Budget (November 22) – the second one of 2017.

David Ralph, Chief Executive of the D2N2 LEP (pictured) – the private sector-led Partnership promoting economic and jobs growth in Derby, Derbyshire, Nottingham and Nottinghamshire – welcomed mention of the need to address the key issue of productivity, in Chancellor Philip Hammond’s Budget today, but wanted to see more detail on practical steps in the coming Government announcement on the Industrial Strategy.

Positives in the Budget, for the LEP, were:

  • Research and development – Extra £3.2billion to be invested in research and development nationally, with £400million in funding for electric vehicle charging points announced. This is a technology in which the D2N2 area is a leading force.
  • Skills – An additional £20m for FE colleges to prepare for T(technical) level qualifications. D2N2 invests considerably in skills and training, with training of workers in the workplace a priority.

  • Business Taxes –The VAT registration threshold of £85,000 to remain at that level, to help smaller businesses’ competitiveness.

Mr Ralph  commented “One of the key challenges our economy, and the wider UK economy, faces is productivity. It was good to see an extension of the National Productivity Investment Fund, for a further year and to be given an extra £31million. We need to see more on what practical help will be provided for smaller businesses; along the lines of D2N2 activities, particularly through its EU funding, with programmes helping businesses to specifically address areas such as business competitiveness.

“We were told this would be a Budget about housing and Mr Hammond certainly spent time on this. He was right to say there is no ‘magic bullet’, and it was good to see a multi-pronged approach today to the question of building more and more affordable housing. We welcome the Government’s efforts particularly around giving greater local powers to address delays in housebuilding, and the increased funding to the Housing Infrastructure Fund. As a LEP, D2N2 is directly involved in efforts to make more and better housing available in its area, with set targets for this as part of our over-arching Strategic Economic Plan’.”

He added “We hope to see the Government’s Industrial Strategy provide additional opportunities, and powers, for our area to direct its own economic future.”

Media wanting further information about the D2N2 LEP can contact Sean Kirby, D2N2 Communications Manager, on 0115 9578749 and email: sean.kirby@d2n2lep.org

Latest News & Events

19 July 2024

Local business support boosted with launch of Early Stage Angel Investment Fund

Read Article

21 June 2024

Spotlight on our Board: Scott Knowles, Chief Executive, East Midlands Chamber, on the D2N2 LEP transition and East Midlands devolution

Read Article

11 June 2024

The D2N2 LEP staff team joins the East Midlands Combined County Authority (EMCCA)

Read Article

07 June 2024

Becky Rix, Marketing Director at Roadgas, explains why Roadgas is a proud member of the East Midlands Hydrogen Consortium

Read Article

05 June 2024

Spotlight on our Board: D2N2 LEP Board Member Natasha Johnson, Director of Partnerships at Global Entrepreneurs UK

Read Article

05 June 2024

Free Expert Business Advice and Support available through East Midlands Chamber’s Accelerator Programme

Read Article

03 June 2024

Spotlight on our Board: D2N2 LEP Board Member Professor Edward Peck CBE, Vice-Chancellor and President, Nottingham Trent University

Read Article

24 May 2024

Focus on the East Midlands: our time is NOW!

Read Article

24 May 2024

D2N2 LEP CEO, Will Morlidge, shares our East Midlands Hydrogen ambitions at UKREiiF

Read Article

24 May 2024

East Midlands Freeport and Freeport East Sign Green Freight Corridor Initiative at UKREiiF

Read Article

Get in touch.

Subscribe to our newsletter

Sign up
Address

D2N2 Local Enterprise Partnership
8 Experian Way
Nottingham
Nottinghamshire
NG2 1EP

Social

Our Partners