News - 26 June 2013

D2N2’s David Ralph welcomes Spending Review announcement on Single Local Growth Fund

David Ralph

David Ralph, Chief Executive of D2N2 LEP

David Ralph, Chief Executive of D2N2 – the Local Enterprise Partnership for Derby, Derbyshire, Nottingham and Nottinghamshire, said: “Today was a big day for Local Enterprise Partnerships as Chancellor George Osborne set out the principles of devolving funding to LEPs and the principles of the Single Local Growth Fund. 

“Announcing £2bn in 2015/16, and £10bn over five years, the scale of the Local Growth Fund is not dissimilar to that of RDAs and confirms the important long-term role that Local Enterprise Partnerships will play in delivering growth in the English economy. 

“Today’s announcement clearly points towards a growing and more significant role for the business-led LEPs in the future as the building blocks of economic growth. 

“D2N2 is ready and poised to rise to this challenge now and plans to publish its Growth Plan: ‘D2N2 – The UK’s Most Inspirational Postcode’ on Tuesday, July 9th, 2013, at Pride Park Stadium, Derby. 

“Our Vision is for a more prosperous, better connected, and increasingly resilient and competitive economy. 

“Our vision and ambition is built on our knowledge of the D2N2 economy, recognition of the challenges and opportunities of the 21st century global economy and our understanding that economic growth is not an end in itself. Economic growth enables individuals to access the opportunities to lead productive and rewarding lives, our society and culture to flourish and to protect and enhance our environment, creating a sustainable, low carbon future for the D2N2 area. 

“The single target of this Growth Plan will be revealed on July 9, but it clearly demonstrates our intent to deliver private sector jobs, raise skill levels and build businesses. 

“D2N2 will inspire economic growth. We will support firms to innovate, invest, export, grow and create sustainable jobs. Through our Growth Plan, we will shape the conditions and investments to support businesses to grow. 

“Partners within D2N2 have significant resources, programmes and capabilities to support economic growth.  Local Authorities have supported the development of local Growth Plans, higher education institutions have a major economic role in driving demand, innovation and skills and business are the motor of growth.

“As partners we will support growth by acting together, harnessing the partnership’s resources to create the conditions and inspire the investments that will support businesses to grow. By acting as a genuine partnership, committing our time and resources to promote growth, we will achieve more than we can apart. 

“The data demonstrates that in order to close the gap with the UK average and achieve our vision, the D2N2 economy needs to deliver a step change in employment. D2N2 is ready for this challenge. 

“Our commitment to growth is reflected in the ambitious target that we have set. However, by itself, catalysing the resources of partners within the D2N2 area will not be enough to achieve our vision or hit our targets. To realise the full potential of our area, we will ask Government to devolve further growth-shaping resources for direction by D2N2. 

“Growth will not only be influenced by the actions we take or inspire, it will be influenced by national and international economic conditions, the underlying strength of our economy and the path we have followed to date. This is why the commitments that we make are long term, reflecting the fundamental conditions for sustainable economic growth. 

“The Single Local Growth Fund will be a competitive process. A unity of vision and purpose will be important to convince Government that D2N2 should receive at least its fair share.”

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