Economic Opportunities
Dec 5 2024
On 31 October, we received correspondence indicating that the government is minded to withdraw the funding that underpins the day-to-day running of the Midlands Engine by March 2025 – subject to consultation.
The Midlands Engine shares the government’s ambitions to see a more simplified devolved landscape to support inclusive growth for our region. However, we are concerned that a decision to stop funding so abruptly, without proposed new structures being fully formed, will see us lose critical regional economic connectivity and collaboration at precisely the moment when government is striving to deliver economic growth.
We ask for your support as we call on government to consider transition funding arrangements that will enable the Midlands Engine to carry on important work to attract inward investment and growth, bridging the gap while new Combined Authorities are implemented and prepared to deliver.
The 4-week government consultation period began on 18 November and will close on 16 December. Your support is vital if we are to achieve a successful consultation outcome.
In addition, the influence and reach of your networks are invaluable assets to us now. Any discussions within your circles that convey the importance of this work will help us sustain momentum and demonstrate the broad-based regional support for transition funding.
Since its inception, the Midlands Engine has delivered tangible results, including:
These initiatives and more have fostered regional collaboration, leveraged co-investment and aligned local ambitions with national priorities for sustainable growth.
Thank you for your commitment to your Partnership.