Former Conservative deputy prime minister Michael Heseltine says industrial growth will come when funding is taken out of Whitehall departments and given to Local Enterprise Partnerships.
Heseltine, now a Conservative peer, recommends that central government should identify budgets in different departments that support growth, and bring them together in a single funding pot for local areas. This pot could be around £50 billion, which could then be the subject of bids from LEPs.
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