Growth Deal

The Leeds City Region Local Growth Deal is a £1 billion-plus deal between the LEP and the Government to help transform the Leeds City Region economy.

Local Growth Deal

Our Strategic Economic Plan was the base for negotiating the £1billion-plus Local Growth Deal, which was agreed with Government in July 2014. This, along with other sources of funding, is enabling the West Yorkshire Combined Authority and the LEP to start delivering our ambitions to transform the City Region economy.

The Growth Deal will help us to accelerate economic growth across the entire City Region by improving local transport links, accelerating housing growth and town centre regeneration, developing a skilled and flexible workforce, supporting growing businesses and building a resource-efficient City Region.

Delivering our Growth Deal

Assurance Framework

The Assurance Framework covers capital and significant revenue expenditure funded by Government or local sources and invested by WYCA in projects and programmes, including all Government funding received by the LCR LEP via WYCA as the LCR LEP's accountable body.

We see the Assurance Framework as essential good practice for a partnership that must be trusted by the public and government to take its own investment decisions. This Framework is designed to help us maintain that reputation in the eyes of the government and public.

Monitoring

We produce a regular summary document showing how the Growth Deal is being implemented. It shows an assessment of progress and risk (particularly related to expenditure) on each project within our Growth Deal by rating them red, amber or green on a range of criteria (detailed below) agreed by the Investment Committee at its meeting on 8 March 2017:

  • % forecast outturn against annual allocation
  • % actual expenditure against quarterly spend profile
  • risk of not achieving full expenditure of annual allocation (this will take in to consideration the amount of annual allocation included in the final quarter as expenditure heavily weighted in the last quarter of the year represents a significant risk of underspend).

The summary is published in the papers for each meeting of the Investment Committee. The agenda and papers for these meetings are published on the Business case summaries page.

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