£12m boost for economy

AN extra £12million has been made available to Greater Manchester’s Local Enterprise Partnerships as a result of the Budget.

The cash brings the total allocated to the 10 Greater Manchester authority-wide LEPs under the Growing Places Fund to more than £37.35million.

The new funding follows Prime Minister David Cameron’s keynote speech when he set out his belief that new infrastructure is the “magic ingredient” to long-term economic success.

The Budget included an additional £270million across England for the Growing Places Fund, while up to £150million will be available for projects in core cities.

Communities Secretary Eric Pickles said the Growing Places Fund provides upfront and flexible funding to LEPs.

They can use it to boost economic growth fast by getting infrastructure built to enable them to create new homes and jobs, and get stalled projects moving again.

Mr Pickles said: “We know that new infrastructure is one of the most important ways to get the economy growing again, support new homes and create long-term jobs and growth.”

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