2014-2020 Update

It is proving to be a busy summer for those with an interest in the development of the EU SIF strategy.

At their meeting in July, the LEP Board considered the findings of the four working groups tasked with developing LEP-priority focussed responses to form the basis for the activity for future programmes. 

This work and the initial findings of the online and telephone consultations run by the LEP with stakeholders and partners allowed the LEP to agree some principles for the drafting of the future strategy.

  1. In principle, funding split between thematic objectives (a menu of investment areas proposed by the European Commission).
  2. Percentage split between grant and loan with an ambition to deliver at least 25% of the programme through non-grant mechanisms.
  3. Percentage split between ERDF and ESF to be as in the European Commission regulations with 75% of the allocation on ERDF and 25% on ESF.
  4. The ambition for around 5% of the Cornwall and Isles of Scilly EU funding allocation to be placed into community led mechanisms accessible across 100% of Cornwall and the Isles of Scilly in both rural and town areas
  5. The wish to collaborate with other LEPs in specific areas of interest including Financial Engineering Instruments, renewables including the marine sector, supply chain development, physical infrastructure and collaboration linked to research and development opportunities.
  6. The desire for the next programme to focus on fewer, larger and better investments which meet the economic characteristics of Cornwall and the Isles of Scilly –capitalising on and consolidating existing investments and a recognition that a project pipeline needs to be developed in advance of the start of the programme to ensure that we are able to hit the ground running when the programme goes live. 

The LEP has been in frequent discussions with the key managing authorities responsible for the European Structural and Investment Funds. It aims to raise the profile of the specific economic opportunities that exist in Cornwall and the Isles of Scilly and convey their in-principle decisions and the emerging areas that the LEP wish to invest in linked to the Cornwall and Isles of Scilly LEP Growth Strategy 2012-2020. 

The summary analysis of the responses to the public consultation process run by the LEP before the summer, together with a response from the LEP to the views submitted will be available shortly on the LEP website. The LEP were pleased to note that the overwhelming view was in support of the direction being taken by the LEP in terms of a strategy of EU funding expenditure to ensure economic growth in the region.

With a submission deadline of 7 October for the draft Cornwall and Isles of Scilly Structural and Investment Fund Strategy, the LEP Board will be considering further iterations of their proposal at their meeting on 11 September. Following this date, the LEP will make available on their website the agreed detail for public consultation for a brief period of time before the draft is submitted to Government. There then follows a period of negotiation before a final Strategy will be agreed in January 2014.

For all the above information when it is released see www.cornwallandislesofscillylep.com


Friday 30 August 2013