LONDON ENTERPRISE PANELJuly 2012

Michelle Cuomo, Senior Manager

Economic & Business Policy Unit

The London Enterprise Panel

Background:• October 2010, the Government invited the Mayor, London

boroughs and business leaders to consider the case a London enterprise partnership.

• February 2011: approval for one partnership covering all of Greater London

• A shadow body – The LEP Advisory Panel –established to develop proposals for the Panel’s “permanent basis including the establishment, remit, composition, legal basis/structure, together with proposals for any secretariat and other professional support”

• 2012 , the Mayor approved the London Enterprise Panel, including a Constitution, its remit and membership.

• First meeting took place on the 22nd February, with the second meeting planned for 29th May.

Legal, Finance and Governance FrameworkLegal basis:The London Enterprise Panel:• Is a non-incorporated consultative and advisory body

established by the Mayor under sections 30 and 34 of the GLA Act 1999;

• Has no separate, independent or corporate legal status;• Must operate through the GLA which may be required to

act as its “accountable body” for funding provided by Government;

• Will work within the legal, governance and financial framework that governs the GLA;

• Can advise the Mayor on the allocation of certain funding made available to it by him and/or Government;

Mayoral Approvalor approval by GLA officer as

delegated

London Enterprise Panel

Housing Investment Group

London Housing Board

Investment Programme

Board

Skills & Employment Working Group

The Members

• Boris Johnson, Mayor of London (co-Chair) • Harvey McGrath, Chairman of Prudential plc (co-Chair) • William Castell, Chairman Wellcome Trust • Grant Hearn, Executive Chairman, Travelodge • Nick Turner, Managing Director, Nomura • Jack Morris, Chairman of Business Design Centre Group • Stephen Howard, Chief Executive, Business in the Community • Sue Terpilowski, Chairman London Policy Unit at Federation of

Small Businesses

• Councillor Chris Roberts, Leader, Royal Borough of Greenwich • Councillor Steve Reed, Leader, London Borough of Lambeth • Councillor Michael White, Leader, London Borough of Havering • Kit Malthouse, the Deputy Mayor for Regeneration, Growth and

Enterprise (ex-officio member)

The Panel’s Role

The Panel’s role is to advise the Mayor on actions to:

• Provide strategic investment to support private sector growth and employment in London;

• Promote enterprise and innovation;

• Promote the acquisition of skills for sustained employment in London; and

• Protect and enhance London’s competitiveness.

All papers and terms of reference for the Panel can be found here:

http://www.london.gov.uk/business-economy/working-partnership/lep

• London Growth Fund

• Bids for other LEP funding streams announced by GovernmentGrowth Innovation FundCity Skills Funding

• Business rate uplift in the Enterprise Zone/s in London Royal Docks Enterprise Zone – confirmed Battersea Enterprise Zone – not yet confirmed

The Panel’s Role:Advise the Mayor on actions to provide strategic investment to support private sector growth and employment in London

Strategic Investment:The London Growth Fund

£41m allocated to the LEP to unlock potential areas of growth in the capital:

• Revolving fund• Projects of at least £5m • Supported by a strong business case to deliver

measurable growth• Public/Private Partnerships• The fund was tendered out in May and

applications are currently being reviewed by the LEP

Strategic Investment cont:London Growing Places Fund

An additional £70 million Growing Places Fund (GPF), was awarded to the London Enterprise Panel in the March Budget.

Currently the LEP & GLA are discussing using the funds to:

• Invest in significant sectoral interventions with maximum impact

• London Investment Fund – with TfL• SME Business support

• Government funding and programmes to support SMEs has been nationalised and is directly managed by BIS - Solutions for Business (SfB), encompassing 13 products and services for SMEs, including

Growth Accerator - aims to support start ups and high growth SMEs to address barriers to growth and support them to grow more rapidly. 3-year contract awarded to Grant Thornton to implement this.

• Assistance in negotiating the Mayor’s European Regional Development Fund (ERDF) allocations

• Advising the Mayor on all other actions to promote enterprise and innovation, given your private sector and wider experience.

The Panel’s Role: Advise the Mayor on actions to promote enterprise and innovation in London

LEP Skills and Employment Working Group –only statutory working group

Purpose: • work to equip Londoners with the skills to enable them to

compete for London’s jobs and to increase the number of

Londoners in employment.

• First meeting of the group took place on the 2nd May 2012• Follow up meeting on the 7th June 2012• All agenda’s, minutes and public papers relating to the group

can be found here:www.london.gov.uk/moderngov/ieListMeetings.aspx?

CId=253

The Panel’s Role:Advising the Mayor on actions to promote the acquisition of skills for sustained employment in London