The Chamber believes all the local authorities involved should join them in pledging their own full support to the proposals which it is sure will secure future economic growth. John Bridge OBE DL, Chief Executive of Cambridgeshire Chambers of Commerce, said: “The Chamber believes that devolution of powers will be instrumental in ensuring that key decisions on future investment in infrastructure are made by those who truly know and understand the economies that will be affected. We are pleased that through the Enterprise Partnership, which will have full voting rights as a member of the proposed new Combined Authority, the views and needs of the business community will be robustly represented under the plans. “We are delighted that the Enterprise Partnership has led the way in being the first member of the proposed new combined authority to pledge its unambiguous support for this new working partnership. Now we’re calling on all the local authority members to also unanimously fully support and approve the deal at their forthcoming full council meetings.”
The Chamber believes that the Devolution Deal is a key component in ensuring that Cambridgeshire and Peterborough receive the necessary investment required to continue to secure the future economic growth that is anticipated from our high-performing region.
Once in place the Devolution Deal would create a new £20 million annual fund for Cambridgeshire and Peterborough for the next 30 years to support economic growth, development of local infrastructure and jobs. An additional £70 million would also be made available for affordable housing in Cambridge, and £100 million for non-Housing Revenue Account affordable, rent and shared ownership homes across Cambridgeshire and Peterborough, as well as providing access to a range of other funds and powers.