Government backs regions plan

The Government has backed plans to devolve greater power to the country's regions. In response to Lord Heseltine's report No Stone Unturned, England's Local Enterprise Partnerships will benefit from £500,000 over the next two years.

View all 7 updates ›

LEPs will benefit from £500,000 over next two years

England's 39 business-led Local Enterprise Partnerships (LEPs) will benefit from an immediate funding boost worth £500,000 over the next two years.

In 2015, the Government will create a single pot of money, which LEPs can bid from, and spend on projects of their choice.

Lord Heseltine during a presentation of the Greater Birmingham Project report yesterday Credit: Rui Vieira/PA Wire

The money will be taken from capital cash currently allocated to departmental budgets and European Union funding.

In return, the Government will make LEPs set out their long-term plans in Local Growth Deals.

The announcement today comes as the Government responds to Lord Heseltine's plea to devolve greater power to the UK's regions.

More top news