Purpose

This report proposes the creation of a Lancashire Levelling Up Investment Fund of £5m. This bespoke fund will enable, accelerate, unlock and assist in the delivery of Lancashire's multi-£billion pipeline of major development projects and infrastructure programme, complementing the Government's Levelling Up White paper.

The Fund will principally support county council-led projects as well as those delivered in partnership with both public and private sector organisations focused on Lancashire's contribution to the levelling up agenda and the emerging vision and ambitions of "Lancashire 2050". The report also references the Lancashire Economic Recovery & Growth Fund and the opportunities for the proposed Lancashire Levelling Up Investment Fund to build upon the success of this programme.

This is deemed to be a Key Decision and the provisions of Standing Order C19 have been complied with.

Decision

The Cabinet approved the recommendation(s) as set out in the report.