Regional growth update: March 2023

We’re committed to ensuring your voice is heard in your region, and that real, practical change can be driven to boost productivity and prosperity. To do this, the CBI sits on business groups across Mayoral Combined Authorities (MCAs) and Local Enterprise Partnerships (LEPs) in the regions, making sure that businesses voice is central to their plans to drive growth across all English regions.

This monthly update gives the latest news from across the regions focused on the CBI Seize the Moment priorities; achieve net zero, drive innovation, put business at the heart of UK trade policy to shape a more agile skills system, and instill a culture of valuing health more as a nation.

Latest headlines

• The chancellor announced £819m worth in levelling up and regeneration funding as part of the Budget. The largest fund announced was the £400m for new style levelling up partnerships in 20 areas across England.
• The government has agreed trailblazer devolution deals with the West Midlands Combined Authority and the Greater Manchester Combined Authority. These deals equip the authorities with new levers over local transport, employment, housing, innovation and Net Zero priorities, a long term commitment to local authorities retaining 100% of their business rates, and include a commitment to provide these MCAS with single multi-year funding settlements at the next Spending Review.
• The government has announced the creation of 12 new investment zones to “drive business investment and level up” the country. The 12 areas agreed are: the West Midlands, Greater Manchester, the north-east, South Yorkshire, West Yorkshire, East Midlands, Teesside, and Liverpool. There will also be at least one investment zone in Scotland, one in Wales and one in Northern Ireland.
• The government is “minded” to withdraw support from local enterprise partnerships (LEPs) and transfer their responsibilities to local authorities from 2024. DLUHC and the Department for Business and Trade will now