Local Enterprise Partnership welcomes budget announcement19th March, 2014
The budget, announced earlier today by the Chancellor has been welcomed by the Heart of the South West (HotSW) Local Enterprise Partnership (LEP).
Steve Hindley, Chair of the Heart of the South West LEP said: “The measures announced in today’s budget are encouraging: in particular, we welcome the news around the £200m made available for urgent maintenance to repairing roads.
“This is very timely, as the LEP will be making a strong case to government about the serious lack of investment into transport infrastructure over the last few years. Making transport improvements will enable us to create the right jobs for the future knowledge economy.
“The £140m extra for flood defence repairs and maintenance is also welcome - however, we would like more detail on how, and when, this money will be allocated. The Heart of the South West area has been battered by the recent severe weather and a huge amount of investment is needed due to under investment in the past.
“Businesses in the local area will benefit from the Regional Air Connectivity Fund, helping to increase connectivity – in addition, the freeze on the fuel duty rise is good news for our predominantly rural area. We also welcome the increased emphasis and investment into exports: we work closely with UKTI to coordinate foreign direct investment across the area helping to influence investment in the future.”