Coronavirus: 40 Peterborough and Cambs companies apply for share of mayor’s £2.3m war chest

So far, 40 businesses have approached the Cambridgeshire and Peterborough Combined Authority asking to take advantage of its £2.3 million capital fund.

The figure was revealed by metro mayor James Palmer, leader of the combined authority, on the same day that a new Covid-19 leadership group (the Mayor’s Forum) he set up to help the region keep its businesses going during the crisis met for the first time.

Mayor Palmer said: “The mayor’s role puts me in a unique position to draw together the mix of talents and expertise our region needs at this time. We must help pilot Cambridgeshire and Peterborough from shock and response today, through recovery, and into a future where we can once again thrive.

“Continuity is king and beefing up resilience in the local economy is hugely important to everyone who needs to get back to work. Cambridgeshire must be on the front foot when the virus threat drops back.

“Of course, some issues can only be resolved by Westminster, but where it’s locally possible to alleviate hardship and distress then we’ll be there doing it.”

The Mayor’s Forum is a think-tank where local business leaders, key stakeholders, MPs, transport providers and banks can analyse the impact of Covid-19 on economic resilience and consumer and investor confidence and formulate plans for recovery in Cambridgeshire and Peterborough.

It will also provide a well-informed voice to ministers and the Prime Minister regarding both economic impacts of the virus that cannot be resolved locally and advocacy for financial and other support.

The Mayor’s Forum, which met virtually to observe social distancing, will meet every week.