Tuesday, September 3, 2013

News: LEP seeks views on how to invest EU money

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The Sheffield City Region Local Enterprise Partnership (LEP) is calling on residents, business leaders and partner organisations to have their say on how future funds from the EU (European Union) should be spent in the Sheffield city region.

On Monday September 9, the LEP will host an EU Investment Strategy consultation event at the New York Stadium in Rotherham.

The aim of the event is to gather thoughts, ideas and suggestions from organisations or individuals on the strategic priorities for future EU funding. The LEP will need to submit a first draft of its EU Investment Strategy to Government by October 7.

James Newman, chairman of the Sheffield City Region LEP, said: "The LEP believes that it is essential that our strategies reflect the views of all individuals, businesses and organisations that have an interest in EU Funds.

"The LEP will receive about £175m of European funds to invest from 2014-2020.

"This is a lot less than had been hoped for, due to Government allocations being changed to our disadvantage.

"With significantly less funding available, it is important that what those funds will be spent on demonstrates better value for money than ever before."

Earlier this month, local Wentworth MP, Hohn Healey called for a Parliamentary inquiry into the 61 per cent cut in funding, arguing against South Yorkshire's money being used to "top up" Scotland, which has a far stronger economy.

In a letter, the MP told chairman Adrian Bailey the methodology behind the allocation was "severely and demonstrably flawed" and had resulted in "unfair and unjustifiable disparities" between South Yorkshire and other parts of the country.

He said: "Sheffield city region has huge potential. I want to see a fair set of allocations because I want to see our area reach that potential and create the jobs, growth and prosperity which will benefit our local community and the country as a whole."

Sheffield City Region LEP website

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