Local Enterprise Partnerships (LEPs) are due to receive Local Growth Funding for 2020-21 to support the delivery of the Growth Deals agreed with Government. We have communicated with all LEPs clarifying our approach, and how we will support them manage funding and delivery at this challenging time. That confirmed LEPs will receive two thirds of their Local Growth Fund allocation in May to ensure they have adequate funding to drive forward their programmes where delivery is happening. The final third will be released pending a short light touch review over the summer to understand what if any slippage or disruption the effects of Covid-19 may have caused to individual LEP programmes. This will help everyone understand where further work and support from Government may be required, whilst ensuring funding is awarded when it is needed.
The March 2020 Budget also confirmed up to £387 million in 2021-22 to provide certainty for local areas that they will be able to continue with existing priority Local Growth Fund projects that require funding beyond 2020-21. We have said that we will work closely with LEPs and Mayors to understand the changing needs of local economies, and will look at how this funding could be used alongside other resources to support local economic recovery efforts. Future funding decisions will be announced in due course.