Interested parties are invited to comment on the interim report. See Action needed to sustain growth in Cambridgeshire & Peterborough
Mr Zeichner has called on the Government to ensure that Cambridge, and the wider areas, are given the necessary financial autonomy to prevent growth in the region from stalling.
Daniel Zeichner said: "This is a substantial and important piece of work which, crucially, identifies that the Combined Authority contains three distinct economies – and warns that continued prosperity in and around Cambridge is at risk given current housing and transport constraints."
"One of the key findings of this Interim Report is that “the largest economy is expected to start to falter in the foreseeable future” [p.36]. This should be a wake-up call to Government. They must allow Cambridge and the wider areas, which make up the Greater Cambridge Partnership, the fiscal freedom to respond to the clear needs of our local economy, or they risk damaging one of the most dynamic and successful parts of the UK economy"
Darren Hill, Commercial Property Manager at Cheffins, also comments. He said: “This is the first time that an independent commission has published findings on the Cambridgeshire and Peterborough economy and its final report will form the backdrop for future strategic policy and decision-making by the Cambridgeshire and Peterborough Combined Authority. Decision-making and infrastructure investment should, therefore, be based on compelling arguments without political inference. The commission has leading experts on its panel with a variety of backgrounds and expertise that is currently considering contributions from a wide array of organisations across the devolved geography, and so it should provide a comprehensive picture of the current economic situation and future challenges.
"The real positive is that economic growth in the area appears to be above that already reported, however, this will increase the urgency for new and improved transport and housing infrastructure to sustain this growth moving forward. This will be paramount in order to keep the area attractive amid global competition.
"The challenge is going to be whether the present structure for authorities in Cambridgeshire and Peterborough can deliver in these areas given available funding streams and the complexity of the current Local Government framework. The report notes, for example, that there is a real need to provide clarity on the current roles and responsibilities for the Combined Authority/ Upper and Lower Tier Authorities. If anything, the review of Local Government across the area being led by Andy Wood on behalf of the CPCA is perhaps even more important and this may also require additional devolved fiscal powers to be given to the mayor in order to be successful.”