The government should provide Local Enterprise Partnerships with core funding for a further five years from 2015, MPs say.
The House of Commons Business, Innovation and Skills Committee says in a report published on 26 April that the existing two-year funding commitment does not give the partnerships enough time to make longer-term investments. It also calls for a consensus on investment to be developed across political parties.
The government created the 39 Local Enterprise Partnerships after an announcement in 2010 that the Regional Development Agencies would be abolished. In his October 2012 report, No Stone Unturned in Pursuit of Growth, former Conservative peer Michael Heseltine outlined a number of ways in which the government could make the most of these partnerships.
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