Speaking after the announcement, Steve said ” The commitment by government to review the way in which they analyse and approve spending is long overdue. For a long time, Lancashire has been disadvantaged when it has tried to access public funds as the calculations for determining value for money has been heavily biased towards the South East and more prosperous areas of the country.
”The reforms for assessing public spending on projects should start to prioritise those in the North and help to ensure Lancashire is able to benefits from these reforms and secure the funding it needs. The launch of the £4bn Levelling-Up Fund is intended to ensure funding for local infrastructure is allocated to those projects which local areas actually want. Naturally we have yet to see the detail behind the Fund, but I appreciate the sentiment that funding will be locally driven as opposed to centrally determined. Along with locating the new UK Infrastructure Bank in the North, these announcements are an encouraging start and reinforces the government’s commitment to levelling up the regions, but we still have a long way to go to levelling-up. Covid-19 has exacerbated the disparities between regions and we must continue to work with partners to secure its fair share of future prosperity.”
Steve went on to say, ”The increase in defence spending is also welcome news. Over the past few months, the Lancashire Enterprise Partnership has been working with businesses in the aerospace sector to develop the Lancashire Aerospace Recovery Plan. We will work with Government to promote Lancashire’s significant capabilities in aerospace and ensure our businesses are able to benefit from the increase in defence spending to protect our jobs and skills in the sector.”Uncategorised