£100m unlocked for Cambridgeshire and Peterborough after government review
Funding of £100m for Cambridgeshire and Peterborough has been unlocked after the Combined Authority passed the first of its scheduled government reviews.
The investment funds will be delivered to the Combined Authority over the next five years, with the first installment in 2021-22.
The Combined Authority currently receives £20 million per year Gainshare funding from the government.
This latest announcement follows the first review of progress on the authority’s investments as part of its national Gateway Review process.
Minister for regional growth and local government, Luke Hall MP, said in a letter to mayor Dr Nik Johnson that he was pleased to see that improving cooperation and collaboration was one of the mayor’s priorities and saw that a shared vision amongst local partners was key to delivering on the Combined Authority’s ambitions.
The letter went on to say that he expected to see the Combined Authority’s programmes to continue to demonstrate positive outcomes and that future funding would continue to support greater investment opportunities and boost the wider economic growth in the country, particularly as the region moves forward out of the Covid-19 restrictions.
Dr Johnson said: “This news comes at a pivotal time. I am delighted at the certainty this gives us to continue investing in our programmes over the coming years. My ambition is to redouble our efforts to ensure that what we do means something to people and communities and that it is essential and enduring.
“I want to thank the Combined Authority team and our partners for getting us here, for their hard work that goes into delivering our projects that allow us to demonstrate a positive and successful organisation.
“This is only achieved through cooperation and teamwork. I will work with them as we embed compassion within our work, cooperation with those we work with and all so that what we can benefit the communities we serve.”
The next Gateway Review will evaluate completed interventions in judging the authority’s performance, with an expectation to evidence outcomes as well as outputs for completed interventions.