Decision details

National productivity Investment Fund - Approval to Submit a Funding Bid

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Purpose:

The Chancellor of the Exchequer's 2016 Autumn Statement announced a new National Productivity Investment Fund (NPIF) to provide £23 billion of additional spending in areas that are key to boosting productivity: transport, digital communications, research and development (R&D), and housing.

On the 30th May 2017 the Deputy Leader of the County Council and the Cabinet Member for Highways and Transport gave approval for consultants to be appointed to help prepare robust bids for submission to the competitive NPIF process.

This report outlines the estimated costs of the proposed bids relating to Preston City Centre congestion reduction and the proposed M55 to St Annes Link Road, the potential value of County Council contribution and the potential funding options for any potential County Council contribution. The report also requests approval to submit the bid proposals by 30th June 2017.


Decisions:

(Not for publication – Exempt information as defined in paragraph 3 of Part 1 of Schedule 12A to the Local Government Act 1972. It is considered that in all the circumstances of the case the public interest in maintaining the exemption outweighs the public interest in disclosing the information.)

 

A report was considered on the approval of the submission of a funding bid to the National Productivity Investment Fund.

 

Resolved: That the recommendations, as set out in the report, be approved.

Divisions Affected: (All Divisions);

Contact: Janet Wilson Email: janet.wilson@lancashire.gov.uk Tel: 01772 538647.

Report author: Janet Wilson

Date of decision: 15/06/2017

Decided at meeting: 15/06/2017 - Cabinet

Effective from: 21/06/2017

Accompanying Documents: