Sheffield mayor warns of Local Growth Fund ‘cliff edge’

The mayor of the Sheffield city region has called on the government to extend the Local Growth Fund, which is due to expire next year.

Dan Jarvis said the fund has ‘helped change the face of our region’ and unlocked £500m private sector investment in South Yorkshire’s economy.

However, it finishes at the end of March 2021.

Last year, a cross-party group of MPs warned the government was considering merging the Local Growth Fund with the planned UK Shared Prosperity Fund (UK SPF) as part of a Westminster ‘power grab’.

Details on both the future of the Local Growth Fund and the UK SPF have been thin on the ground, although an announcement may be made, as part of the chancellor’s spending review next week, on 25 November.

Mr Jarvis has also called on the government to fund a Renewal Action Plan, so the mayor, local authorities and businesses can deliver a jobs-led recovery through the South Yorkshire Works jobs, apprenticeships and training programme.
He has called for the delivery of priority flood defence schemes to protect over 10,300 homes and 2,800 businesses.

Mr Jarvis also recently called for changes to the Treasury’s Green Book, which is used by civil servants to appraise and evaluate policies, infrastructure projects and programmes.

‘South Yorkshire is open for business, and ready to prosper despite the challenges Covid throws at us,’ said Mr Jarvis.

‘We’re investing money from our landmark devolution deal to start our fightback form the pandemic, yet the uncertainty of the future of the LGF hangs over us and threatens to derail our progress.

‘Extending the fund will unleash growth across the Northern Powerhouse. We have businesses ready to invest and plans ready to go to deliver prosperity for our people and places. We can deliver recovery and renewal and stand ready to be levelled up.’

Photo Credit – Sheffield Ciy Region Combined Authority (Supplied)