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Marches Local Enterprise Partnership responds to budget
THE Local Enterprise Partnership (LEP) tasked with creating the conditions for economic growth in Herefordshire has welcomed the chancellor's support of the Heseltine Report in today's Budget.
George Osborne announced that the Government was accepting Lord Heseltine's recommendation of a 'single pot' of funding, where the regions will be able to decide locally where cash is spent.
Dr Geoffrey Davies OBE, chairman of the Marches LEP, said: “The chancellor took the opportunity today to show how the Government intends to implement some of Lord Heseltine's recommendations.
"I am delighted that the Government has backed this radical blueprint for growth, which I believe will pave the way for a fairer funding deal for our region."
The LEP also covers Shropshire, and Telford and Wrekin, as well as Herefordshire, and includes 28,000 businesses that contribute £10 billion pounds annually to the UK economy.
“The task of the private-sector led LEP is to put The Marches on the map as a significant, strategically placed and well-connected area for business and the Government's support of Lord Heseltine's recommendations will give us the chance to do this and do it properly," added Dr Davies.