Agenda item

The board considered a report of the Executive Director of Economy, Skills and Communities that sought comments and endorsement to the economic aspects of the devolution deal particularly relating to business support, trade and  foreign direct investment, research and development innovation and West Midlands Smart City Region.

The Executive Director of Economy, Skills and Communities, Dr Julie Nugent introduced the report and advised that this work was part of the wider devolution work being led by the Executive Director of Strategy, Integration and Net Zero, Ed Cox.

It was noted that the WMCA and partners had agreed a framework of 20 workstreams of which included 7 aspects of economic activity where the Economic Growth Board provides the point of collective leadership; the devolution ask proposals had been shared with different groups for their thoughts and advice.

The Head of Economy and Local Industrial Strategy, Jonathan Skinner reported on 3 key areas of focus these included the beneficiaries and impacts on business and entrepreneurs, attracting foreign investment and intense activity around research and development and innovation to double investment in the West Midlands.

The Chair asked members if they were happy with the proposals outlined in the report and invited the board to put forward any comments or questions.

Corin Crane (Black Country Chamber of Commerce) commented that it was a really good report and reported on the importance of delivery and ensuring inclusion and diversity underpins everything.

The Mayor reported that whilst the proposal was a good one it would not be easy to get this ‘over the line’ with Government and commented on the need to give consideration to how business backs the economic positions and to look at the issue of freeports and tax advantages.

Councillor Courts considered the need to focus on measures of success and outcomes such as growth, job creation and foreign direct investment.

The Executive Director Economy, Skills and Communities reported that the proposals outlined were draft form and these would be more precise following  negotiations with Government.

Neil Rami (West Midlands Growth Company) reported that with regards to foreign direct investment, England was at a disadvantage compared to other parts of the UK and referred to the funds that had been made available to Wales for Aston Martin. He advised that the focus is how funds are administered and the importance of regional decisions, rather than new money.

The Chair reported that comments would be considered and incorporated into the overarching positions that would be put to the WMCA Board.  Details of any specific initiatives or programmes would come back to the board.

The Chair reported that

Resolved:

1. The emerging positions in the report about the devolution of economic powers and resources be endorsed;

2. These positions be further considered by the Devolution Strategy Group and Mayor and Portfolio Holders Group ahead of formal decisions by the WMCA Board on 10 June be noted and

3. That further updates on the progress and implementation of the Trailblazer Devolution Deal be considered by the Economic Growth Board.