The first meeting of Cambridgeshire and Peterborough Combined Authority’s new Investment Committee took place yesterday.
The committee is focused on assessing and making decisions that will drive improvement across the region through funding for projects. It will also build on the existing governance structure that is in place at the combined authority, with this ensuring more timely, strategic and effective decision-making.
This will be done as the combined authority has given the committee the authority to make decisions on business cases that are between £1 million and £5 million, whilst also giving the authority advice on proposals for investment over £5 million.
A number of areas will be the focus of the committee, including:
- Skills and employment
- Economic growth
- Net zero
- Connectivity
Chairing the committee is the Mayor of the region, Dr Nik Johnson, who is also the designated Lead Member for Investment and Economic Growth, whilst other members include the representatives of the combined authority’s seven constituent councils and members of the Business Board.
Cambridgeshire and Peterborough Mayor Johnson said:
“We want to ensure that every penny spent in Cambridgeshire and Peterborough has the greatest impact on our communities and aligns with our shared goals as a Combined Authority. I was pleased to chair the first meeting of this new committee, which will focus on making decisions and recommendations on investments which will best make that happen.”
The first meeting of the committee saw it consider early proposals for a number of projects that amount to around £8 million worth of investment. These include a programme of support for charities, social enterprises and third sector organisations, as well as the extension of the Digital Connectivity Strategy that will work to improve digital infrastructure across the region for all and boost innovation whilst supporting further inclusion for all residents.
Image credit: iStock
