By Daniel Hunter
The British Property Federation has welcomed the Government’s decision to devolve greater decision-making and spending powers beyond Whitehall in a bid to boost jobs and economic growth.
Ministers today (Monday) accepted 81 of the 89 recommendations put forward by Conservative peer Lord Heseltine in the No Stone Left Unturned report published last November.
In particular the Federation welcomed the creation of a single Local Growth Fund, allowing areas with a growth proposition to make their case for a share of the Fund, and the negotiation of a Growth Deal with every Local Enterprise Partnership.
“Development remains stalled in much of the country outside central London and the old models for development are no longer working," Liz Peace, chief executive of the British Property Federation, said.
“Government has got to help foster new forms of public - private partnership and remove obstacles such as cumbersome procurement procedures if development is to be reignited.
“While we welcome the additional support for LEPs, there is some concern, even with the additional money available, whether they will have the resources and authority to play the role the Government envisages. In many of the larger urban areas the combined authority approach may have more traction than the LEP and should be the focus for pushing forward local growth.”
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