The Peterborough Evening Telegraph
New venture to be powerhouse for fAirer funds in EAst region
Former mayor to head up new East of England initiative to generate more money from Government
Peterborough is at the heart of an Eastern Powerhouse set up to secure a ‘fairer’ share of Government funding for the region.
The business-led initiative has been created amid concerns that a lack of co-ordinated campaigning by the cities and towns of the East of England could be costing it millions of pounds.
Chairman of the Eastern Powerhouse, which covers Norfolk, Suffolk, Cambridgeshire, Greater Peterborough, Lincolnshire, and North Essex, is James Palmer, the former Mayor of the Cambridgeshire and Peterborough Combined Authority, who lost his position at the mayoral election last year.
He said: “In recent Levelling Up funding from the Government, the East of England received about £87 million and £287 million from the Towns Fund – that’s a great start.
“But the East of England has a slightly larger population than Scotland yet Scotland, from the same funding, received about £1.5 billion.
“We say the investment is not showing a fairness towards the East of England.”
Mr Palmer said key to securing fairer funding was the Eastern Powerhouse to bring together leading businesses and politicians to make the case to Government.
Peterborough MP Paul Bristow said: “Peterborough is the best-connected city in the East of England, and could benefit hugely from a new Eastern Powerhouse, with business, local government, and politicians all working together to realise the potential of our region.”
Vic Annells, chief executive of Cambridgeshire Chambers of Commerce, said: “We’ll support the Powerhouse.”