Alison Jarrett Assistant Director Finance – Development and Culture Birmingham City Council Investment through austerity or the answer’s jobs, now what’s.

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Presentation transcript:

Alison Jarrett Assistant Director Finance – Development and Culture Birmingham City Council Investment through austerity or the answer’s jobs, now what’s the question?

The Jaws of Doom

The Heseltine Hope

No Stone Unturned – headlines 89 Recommendations Big ideas …. –Single Pot of funding –Localise EU Funding –Legal status for Chambers –Unitary local government –Conurbation Mayors 81 Accepted –Single Local Growth Fund –From 2014 –Rejected –Seeking legislation

Be careful what you wish for… AREAFUNDING STREAMS15/16 TRANSPORTLocal Authority Transport Majors819 Local Sustainable Transport Fund100 Integrated Transport Block200 SUB-TOTAL1,119 SKILLSFurther Education capital330 ESF skills match funding170 SUB-TOTAL500 HOUSINGNew Homes Bonus400 SUB-TOTAL400 TOTAL2,019

100,000 new jobs £8.25bn increase in GVA Key sectors: – Advanced Manufacturing – Business & Financial Services – Clinical research & Med-tech – Creative & Digital – Low Carbon technology – Research & Development – Transport & Building Technologies Build a world class workforce Local Enterprise Partnership 2020 Targets

Enterprise Zone Eastside & Science Park Paradise & Westside Snow Hill Wholesale Market Enterprise Zone

Enterprise Zone Impact 40,000 new jobs across range of growth sectors Floor Space – By 2015, 97,000 sq.m of new development – Once complete 1.3m sq.m including 700,000 sq.m office/commercial – The re-use of 3.8 hectares of buildings/land £2.bn+ GVA per annum

Example current investments New Street Station £ 630m Midland Metro£ 125m Airport expansion£ 125m Highway/Lighting PFI£ 2,700m Library of Birmingham£ 190m Green housing retrofit£ 1,500m Eastside Park£ 60m Enterprise Zone £ 875m Digital infrastructure£ 10m High Speed 2 terminal ? £ 1,000m Example current investments

City Deal 2 – exploring the following… Transport –10 year block funding for majors –Exemption from Council Tax levy –TfL type powers Skills –Delegation of SFA responsibilities Housing –Lifting the borrowing cap Employment –Local management of ‘Work Programme’ Opportunity to pilot ‘Gainshare’ scheme (earn-back) Whole place pilot – opportunity for ‘neighbourhood’ focussed approach

What else is in the armoury? RGF FINANCE BIRMINGHAM PRIVATE INVESTMENT GAINSHARE AIRPORT PASSENGER DUTY ASSETS – SALE AND LEASEBACK SALE OR RENTAL OF ASSETS MOBILE INVESTMENT FUND