Business leaders say they are hopeful the Chancellor’s plans will offer a long-term replacement for European funding for projects across Staffordshire.
The Stoke-on-Trent and Staffordshire Local Enterprise Partnership (LEP) said they were pleased Rishi Sunak had allocated £1.5billion to the Shared Prosperity Fund.
LEP chair Alun Rogers said:
“Our LEP, like those across the country, needs a commitment from the Government of a long-term funding settlement which will enable us to pursue the projects we have set out to grow our economy as we come out of the pandemic period.
“We therefore welcome the announcement from the Chancellor that the Shared Prosperity Fund will be allocated £1.5billion for the next year.
“This is critical in replacing European funding which has supported numerous major projects in our area in recent years.
“In Stoke-on-Trent and Staffordshire, all of the partners involved in our LEP have pulled together to outline our priorities and curated a list of projects which have been analysed by our sub-groups. These total in the region of £150million.
“We have done the hard work and are poised to lead on Stoke-on-Trent and Staffordshire’s economic recovery post-pandemic.
“We look forward to further information from the Government so that we can work together to deliver on our priorities imminently.”Alun Rogers