Agenda, decisions and draft minutes

To receive any apologies for absence; and to receive notification of substitutions.

No apologies were received for the meeting.

To approve the minutes of the meeting held on 8 July 2024 and to note the action log.

The minutes of the meeting held on 8 July 2024 were approved as an accurate record. The Action Log was noted.

The minutes of the meeting held on 8 July 2024 were approved as an accurate record. The Action Log was noted.

To receive any declarations of personal or disclosable pecuniary interests from members in relation to items on the agenda.

Charlotte Horobin declared an interest in regards to her role at the Chambers of Commerce, specifically around the Local Skills Improvement Plan.

Tim Jones declared an interest as Chair of Alia.

Charlotte Horobin declared an interest in regards to her role at the Chambers of Commerce, specifically around the Local Skills Improvement Plan.

Tim Jones declared an interest as Chair of Alia.

To update Business Board members of the latest highlights from the Combined Authority Board, Committees and Business Board Forward Plan. The Forward Plan can be found here.

The Chair asked members of the Business Board to flag any topics with officers that they feel it would be beneficial for the board to discuss or hold a specialised session around.

A verbal update from the Chair.

The Chair highlighted members’ involvement in lots of different activities and events. He noted recent videos that have been recorded ready for the new year on the topics of investment funds and growth funds for SMEs and social enterprise. He commented on recent visits to sites that the Board have overseen investments in, as well as regular meetings and conversations with the Mayor to ensure alignment around upcoming strategies.

Commenting on recent Government announcements on the role of partnerships and the upcoming review of the Business Board (LEP) Network, he emphasised the importance of being part of those conversations.

The Chair then extended the gratitude of the Business Board to officers who are moving on to new roles.

Verbal updates from the Business Board representatives on the Combined Authority's thematic committees.

Charlotte Horobin and Katy Davies provided an update on the Skills and Employment Committee activities:

·         The committee discussed the formation of Skills England and the implications and opportunities provided by the new Government.

·         A regional economic update was provided, noting a higher employment rate than the UK average and a decline in vacancies in key industry sectors. The local skills improvement plan is monitoring these trends, especially in Peterborough and Fenland. Ongoing work includes quarterly labour analysis webinars and sector-focused activities.

·         It was noted that the FE coldspots work is gathering momentum

Tim Jones and Emma Garfield provided an update on the Environment and Sustainable Communities Committee activities:

·         The recent meeting discussed funding schemes for community groups, received a presentation from the Great Ouse Valley Trust, and talked about the impact of road infrastructure projects.

·         The need for flood prevention and balancing water security was emphasised.

·         Other updates included progress on Cross Key Homes and the draft LNRS.

·         There was also an informal briefing which covered the infrastructure delivery framework and updates on the Climate Programme and SAF’s impact on decision-making.

Rebecca Stephens and Andy Williams provided an update on the Transport and Infrastructure Committee activities:

·      A lot of recent focus has been around buses, including options around  franchising, network optimisation, and expanding the concessionary scheme. The Tiger Scheme has had great success with more than 30,000 applications.

The Digital Connectivity Strategy was approved by the CA Board on the recommendation of the committee, its importance for connectivity in the region recognised.

Verbal update from the Executive Director, Economy and Growth.

The Executive Director for Economy and Growth updated the Board on the Local Growth Plan (LGP), highlighting its national progress and the need for alignment with the National Industrial Strategy. A request was made that in light of the new Green Paper, there was scope to share responses and align feedback to demonstrate our region’s joined up approach. The Government’s Growth Mission Board, involving several Secretaries of State, is planning to meet in December, with our local input feeding into those high-level Government discussions. The LGP has been adjusted to align with the government's eight identified sectors, focusing on three major sector/cluster priorities and addressing infrastructure gaps primarily water scarcity and energy, as well as digital connectivity. Issues around skills, access to talent,  and labour supply is also a key priority , linked to housing availability and affordability, and transport connectivity.

The Autumn Budget was also flagged. The Director did not wish to comment on the implications for businesses, but referenced the focus of the Government on future investment. Good news had been announced around East West Rail, the Cambridge Growth Company, as well as re-confirmed commitments linked to Wisbech new town deal and Peterborough Station Quarter. Also announced was £240M for the Get Britain Working" initiative, focusing on supporting disabled people and the long-term sick in getting back into the labour market.

Members emphasised the need for proper infrastructure to avoid losing 125,000 jobs and ensure these jobs benefit local residents through training and retraining. The Director agreed and noted ongoing work to address the sector skills gaps and shortages.

When questioned about the consolidation of efforts on skills, the Director confirmed support for LSIP work and the potential of T-Levels alongside skills academies. The usefulness of detailed data for addressing regional challenges and sector opportunities was also highlighted.

The need for coordinated responses to the green paper was emphasised, to  ensure consistent messaging to the government.

Verbal update from the Economic Development Manager at Cambridge City Council on key priorities for the constituent authority which could be of interest to the Business Board.

The Economic Development Manager for Cambridge City Council updated the Business Board on the constituent authority’s key priorities, talking through the Economic Development Priorities (presentation attached).

Members sought clarity on roles and potential overlaps with the work of the CPCA, recalling previous projects around the redesign of the marked square. The officer noted that there had been previous funding in response to Covid-19 and inclusion in the MTFP.

Sharing feedback from market development in St Neots, members highlighted the need for effective communication to prevent short-term negative impacts when projects take away space. The importance of maintaining the health and vibrancy of the space was emphasised.

CPCA officers mentioned proposals to bridge the gap between old and new government warmer homes initiatives, mentioning the upcoming launch of a climate fund and the need for local authority partners to help with delivery.

Report providing an update of the financial position of the Business Division for 2024/25 up to the period ending September 2024.

It was resolved to:

A    Note the financial position of the Business Division for the financial year 24/25 to September 2024

The Business Board received the budget and performance report which provided an overview of the revenue and capital funding lines within the Business Division’s budget for 2024/25.

The Chair enquired about whether any underspends are of concern or whether they deviate from previous assumptions; officers confirmed there is no concern and that spending is not as quick as expected on some projects.

It was resolved to:

Note the financial position of the Business Division for the financial year 24/25 to September 2024

Report setting out the current position on subsidiary company and other equity interests of the Combined Authority.

It was resolved to:

A    Note the subsidiary company information and current equity holdings of the Combined Authority.

The Business Board received the report which set out the current position of subsidiary company and other equity interests of the Combined Authority.

Officers explained that the joint venture with Whippet coaches and buses is being restructured, with lab space at Fulbourn closing but investments continuing. The partnership with Illumina is ending, though existing investments remain managed.

Members questioned whether the funding transfer is seen as a success or the end of a strategy, one significant success can make a big difference.

The need for detailed evaluation of investments was noted, and the importance of evaluating investment tools and options stressed. The Local Growth Fund (LGF) is depleted, with recycled funds still in use.

ACTION: Officers to assess the success of current investments and gather sector-specific intelligence, coordinating with Sam Bakri for impactful outcomes.

It was resolved to:

Note the subsidiary company information and current equity holdings of the Combined Authority.

Report providing members with an outline of the regions Skills Brokerage service’s (Growthworks with Skills) evolution to date and proposed plans to transition the service when the existing funding stream (UKSPF) comes to an end in March 2025.

It was resolved to:

A    Receive an overview of the current plan to transition the regions Skills Brokerage Service (Growthworks with Skills) post UK Shared Prosperity (UKSPF) funding in March 2025

B    Support the endorsement given by Employment and Skills Committee on the 21st October 2024, to continue service delivery as outlined within this paper.

The Business Board received the report which provided members with an outline of the regions Skills Brokerage service’s (Growthworks with Skills) evolution to date and proposed plans to transition the service when the existing funding stream (UKSPF) comes to an end in March 2025.

Noting that more details would be provided in the new year, members expressed concerns about the potential costs and limited impact of rebranding. Officers that the decision to retain the existing brand when the service came in-house this year was to ensure funding was directed towards delivery. With confirmation that the service can continue with Medium-Term Financial Plan (MTFP) funds, feedback indicated a need for better visibility and alignment with the Combined Authority (CA). This alignment has been gradually addressed, with the Mayor emphasising the importance of this connection.

It was resolved to:

A    Receive an overview of the current plan to transition the regions Skills Brokerage Service (Growthworks with Skills) post UK Shared Prosperity (UKSPF) funding in March 2025

Support the endorsement given by Employment and Skills Committee on the 21st October 2024, to continue service delivery as outlined within this paper.

Report proving an update on the Combined Authorities funding and delivery of Skills programmes.

It was resolved to:

A    Note and comment on the update provided within this report.

The Business Board received the report which provided an update on the Combined Authority’s funding and delivery of Skills programmes.

When asked about commissioning a performance management review, officers confirmed that specific changes are being made on how contracts are managed and operated, with that work looking to be concluded by the beginning of the new financial year.

It was resolved to:

Note and comment on the update provided within this report.

Report providing an update to the Business Board on the progress made in delivering the UK Shared Prosperity Fund (UKSPF) Programme and the Rural England Prosperity Fund (REPF) Programme.

It was resolved to:

A    Note the updates contained within this report

The Business Board received the report which provided an update to the Business Board on the progress made in delivering the UK Shared Prosperity Fund (UKSPF) Programme and the Rural England Prosperity Fund (REPF) Programme.

A new announcement confirmed the need to spend the current allocation for the third year, with additional claims of £200k for UKSPF and £100k for REPF. Confirmation on fourth-year funding is awaited.

Officers emphasised the importance of demonstrating robust financial management and scaling interventions effectively. It was noted that many small projects are resource-intensive and the suggestion is focusing on larger, more impactful projects. Members questioned whether project presentations were overly optimistic, to which officers responded that many projects have external dependencies, complicating management.

Concerns were raised about aligning spending with intended outcomes and the resource burden of managing these funds. Officers highlighted the need for evaluating variations and ensuring they align with the Combined Authority's goals. They reflected on lessons learned, noting that the Combined Authority is now better positioned to deliver more consolidated and focused projects, considering the limited administrative funding provided by the government.

The Board resolved to note the updates provided in the report.

It was resolved to:

Note the updates contained within this report

Report providing an update on Concept Papers in progress within the Economy & Growth Directorate

It was resolved to:

A    Note the update on current Concept Papers in development within Economy and Growth

B    Note the update on the Full Business Case in development for Cambridge Impact Fund

The Business Board received the report which updated the Business Board on Concept Papers in progress within the Economy & Growth Directorate and shared the latest version of the Business Case being developed for Cambridge Impact Fund.

Officers requested feedback and comments via email from Business Board members on the concept paper, developing concept paper and business case appended to the report. 

It was resolved to:

A    Note the update on current Concept Papers in development within Economy and Growth

Note the update on the Full Business Case in development for Cambridge Impact Fund

The next meeting is scheduled for Monday 20 January 2025 at 2.30pm. The meeting will be held virtually.

The next meeting is scheduled for 20 January 2025 at 2.30pm. The meeting will be held online.