Cornwall Invited to Bid for County Deal Status
An opportunity has arisen for Cornwall Council to bid for a Tier 3 agreement which, if successful, could lead to significant benefits for the county by maximising decision making and investment in Cornwall. For a fuller picture of this topic please read the news bulletin below which was issued today by Insider Media.
Roger Mundy, Managing Director, Beardsley Theobalds, 5th April 2022
Cornwall Eyes Ambitious County Deal
Plans for Cornwall to achieve "the most ambitious County Deal possible" have been backed.
The county is among a first wave of areas that have been invited to bid for County Deal status and the Cornwall and Isles of Scilly LEP has endorsed Cornwall Council's plan to bid for a Tier 3 agreement.
The organisation believes this would maximise decision-making and investment in Cornwall, with a long-term investment fund and greater control over existing funding streams.
At its board meeting on 30 March, the LEP agreed to set up a private sector Devolution Deal group to provide the business voice in ongoing discussions with Cornwall Council, Council of the Isles of Scilly, and the government.
Mark Duddridge, chair of the LEP, said: "We have seen through the delivery of Growth Deal, Getting Building Fund and EU funding that investment decisions taken locally better meet the challenges and opportunities of the regional economy.
"It's clear from the Levelling Up White Paper that there are significant benefits to be had from a Tier 3 deal which maximises decision making and investment in Cornwall. And that the government wants to embed a strong, independent and diverse local business voice into local democratic institutions."
He added: "In particular we want to ensure there is meaningful private sector input into the emerging Shared Prosperity Fund (SPF). We very much welcome moves towards Cornwall Council leading on the delivery of the SPF, which we hope will be quicker, clearer and more joined up than previous EU funds."
Duddridge said Cornwall was "poised to make a significant contribution to the UK economy and the transition to Net Zero through the development of floating offshore wind energy and technology metal mining".