Greater devolution to Local Enterprise Partnerships from Whitehall control over the next Parliament could give £144bn economic boost to annual growth figures, a think-tank has today claimed.
A report issued by Localis today which involved all 39 LEPs argues giving the growth bodies fuller powers and funds in the next Parliament could see the size of the English economy increase from £1,600bn GVA to £1,744bn by 2020.
Key recommendations from the report, entitled 'The Next LEPs' call for the next Government to double from £6bn - the sum Labour growth guru Lord Adonis has championed - to £12bn, annual funding devolved to LEPs, and to give council leaders the right to sign-off on LEP budgets to boost democratic oversight.
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