Agenda item

WORK OF THE LONDON ENTERPRISE PANEL

Minutes:

Michael Heanue, Principal Policy Officer (Skills, Employment and SMEs) - Greater London Authority gave a presentation on the work of the London Enterprise Panel.

 

The London Enterprise Panel was the local enterprise partnership for London.  Chaired by the Mayor of London, the London Enterprise Panel was the body through which the Mayoralty worked with London boroughs, business and Transport for London to take a strategic view of the regeneration, employment and skills agenda for the London region. 

 

The vision of the London Enterprise Panel was set out in the Jobs and Growth Plan for London and had four main priorities.  These comprised:

 

1.  Skills and employment, ensuring that skills funding reflected the needs of employers and learners

 

2.  Support for growth of micro, small and medium-sized enterprises, including access to finance, increasing trade and export, workspace and business support opportunities

 

3.  The development of London’s digital creative, science and technology industries as a world-leading hub

 

4.  A robust infrastructure for London, including investment to unlock new growth areas, management of energy production and use, and the provision of digital and telecommunications technology.

 

Following the announcement of the Growth Deal in July 2014, the London region had been awarded £55m capital funding for further education and skills funding (with £65m provisionally agreed for 2016/17), £5m to increase digital skills amongst young people, and £70m to be spent in partnership with London Boroughs to support the delivery of the Jobs and Growth Plan for London.  Funding to increase the apprenticeship grant for small and medium-sized employers in London from £1500 to £3000, and £1.2m to pilot a mental health and employment project in East London had also been agreed.  In addition to this, €746m of European Social Fund and European Regional Development Fund had been allocated to the London Enterprise Panel for 2014-20 which would be matched with a further 50% of domestic funding, as well as €42.8m European Social Fund for Youth Employment Initiative funding.  There was a requirement for European Structural and Investment Funds to align with London Enterprise Panel Priorities, and discussions between the Government and the European Commission were ongoing to support this. 

 

The London Enterprise Partnership was currently consulting on a new Economic Development Plan for London up to 2020 which would help sustain growth across London into the future.  The final draft plan would be presented to the London Enterprise Panel on 29th October 2014 with a view to launching it before the end of 2014.

 

In response to a question from a member of the Partnership, Michael Heanue, Principal Policy Officer (Skills, Employment and SMEs) confirmed that the New Homes Bonus was allocated to London Boroughs based on the number of new homes created.  Sharon Baldwin, Manager, Orpington 1st BID Company underlined the need for local enterprise partnerships to work together to maximise economic growth across communities and regions.

 

Sam Parrett, Bromley College of Further and Higher Education was pleased to note the additional skills funding available in London, and noted that work was being undertaken to explore the potential for the College to offer a specialist provision in the creative and cultural industries. 

 

The Chairman thanked Michael Heanue for his presentation which is attached at Appendix A.

 

RESOLVED that the presentation be noted.