Issue details

This report seeks Cabinet approval for a budget of £0.400m to be reinstated within the County Council's Medium Term Financial Strategy from 2018/19 onwards to enable a contribution of this value to be paid to Marketing Lancashire each year, subject to a yearly performance review. This reflects the County Council's strategic interest and support for the company since the refocused organisation emerged from the former Lancashire and Blackpool Tourist Board in 2011.  This is currently part of a budget saving agreed by Cabinet in November 2015 for the Economic Development service, however as this has been identified as a political priority this has been declared an undeliverable saving. Reserve funding is in place for 2017/18.

The proposed core funding of the County Council is currently matched by local authority and commercial funding contributions of £742,000 in 2017/18, with additional revenue support provided by the Lancashire Enterprise Partnership (LEP) to deliver jointly agreed strategic communications activity to ensure that Lancashire is positioned nationally and within the emerging Northern Powerhouse.

The funding proposed for this for this four year period would enable Marketing Lancashire, in conjunction with the LEP, and working alongside Lancashire's local authorities, to continue positioning and driving forward Lancashire's new "economic narrative" – a new ambitious and inclusive approach focused on Lancashire's key assets and opportunities, which has been very well received by Government, business and local authority partners.

This is deemed to be a Key Decision and the provisions of Standing Order No. 25 have been complied with.