That:

a)    The Marches Joint Committee approve the Marches Local Enterprise Partnership Transfer Agreement;

b)    The Marches Joint Committee delegate to the respective constituent Local Authority’s Corporate Director for Economy and Environment/ Executive Directors:

i.                To make any minor amendments in finalising and to sign the Transfer Agreement on behalf of their respective council,

ii.              To extend the Terms of Reference for the Joint Committee as set out in Appendix 1 to include determining arrangements for ongoing oversight and management of the transferring functions and projects

iii.             To enter into a further agreement to reflect that the benefit and obligations under the Transfer Agreement are shared equitably between the councils from the Transfer Date based on the principles in paragraph 10 of this report AND provides a framework for future collaboration for economic functions should the Joint Committee require it.

1. To not agree the Transfer Agreement – following a government decision to transfer LEP functions to Local Authorities in 2023, the Marches LEP is due to cease operations at the end of March 2024. Failure to agree the Transfer Agreement would result in functions not being transferred, significantly disrupting services to businesses and leaving publically funded assets and contracts at risk. This option is not recommended.

2. Not to enter into the further agreement – due to the short time frame to avoid the risk of extended negotiations between the councils before the Transfer Agreement is signed, the benefit and obligations will fall on Shropshire only (being the accountable body and signatory to the Transfer Agreement). This has been agreed but on the expectation that a fair sharing of benefits and obligations will be agreed by the councils within 30 days of the Transfer Date.