Peterborough joins Eastern Powerhouse to win ‘fairer’ share of national funding for the region.

The business-led initiative has been created amid concerns that a lack of co-ordinated campaigning by the cities and towns of the East of England could be costing it millions of pounds.

Chairman of the Eastern Powerhouse, which covers Norfolk, Suffolk, Cambridgeshire, Greater Peterborough, Lincolnshire, and North Essex, is James Palmer, the former Mayor of the Cambridgeshire and Peterborough Combined Authority, who lost his position at the Mayoral election last year.

He said: “In recent Levelling Up funding from the Government, the East of England received about £87 million and £287 million from the Towns Fund - that’s a great start.

“But the East of England has a slightly larger population than Scotland yet Scotland, from the same funding, received about £1.5 billion.

“We say, ‘hold on here’. The investment is not showing a fairness towards the East of England.

“We know there is potential for the East of England to increase what is effectively its GDP by an extra £31 billion.

“So that means the Government would need to spend less money in the East of England to get a return for its finance - there is no doubt about that.

“So yes, it’s about us wanting to be treated fairly and we expect to be treated fairly.

“There are left behind towns in the East of England as there are in the north.

“Whilst the current investment is welcome, we would like to see something on a par with other regions.

“The Levelling Up white paper could be more ambitious for the East of England and I want it to be more ambitious for us.

“I think the East of England is an extraordinary part of the world and bats way above its average given the investment that comes to it.”

Mr Palmer said key to the success of securing fairer funding was the creation of an organisation like the Eastern Powerhouse that would bring together leading businesses and politicians from the region to create a strategic view of the region and its needs and which could be simply and effectively put to Government and even overseas organisations.

Mr Palmer said: “The north has its Northern Powerhouse, the Midlands has its Engine and the West of England has its Gateway and this is also the answer for the East of England but unlike those organisations we are not looking to be government funded.

“We are an independent organisation that is funded by the business members and council members who will pay a fee.

He said: “During my time as Combined Authority mayor, I found that Mayors in the north of England had this extraordinarily powerful organisation, the Northern Powerhouse, backing their plans for growth, whereas in the East of England there was no such organisation.

“And that has been detrimental to the ability of this region to put across its voice to government for investment.

“The Eastern Powerhouse will put across a strategic view of the East of England and back calls for investment from councils and MPs and promote the East as a place to do business and work and campaign for sustainable investment into the East of England.

“As chairman, I will be able to use the knowledge I gained during my time in local politics and as Mayor and hopefully allow us the opportunity to gain further investment.

“Over the long term, continually putting the region’s view to government and internationally will make a difference.

“We are not talking about securing handouts. We are talking investment - if you invest in the East of England you will see a return on your investment.”

Mr Palmer said the Eastern Powerhous would not become another layer of local politics trying to influence existing councils and politicians.

He said: “We will not be marching into towns and cities and saying this is what you must do.

“We will be promoting projects that have sought funding for years. Our job is not to set policy but to back policies that will bring sustainable growth to the East of England.

He added: “We will be creating a spatial strategy for the East of England but councils will not have to take it on board - we are not trying to get in the way or replace any organisation.

The Eastern Powerhouse will be officially launched on March 15 in London with the event expected to be attended by more than 100 business leaders and MPs.

Mr Palmer said: “Our first meeting is in London because of MPs’ commitments - we wanted the launch to be inclusive of MPs as our job is to be a voice at the heart of Westminster.

“But our general meetings will be based around the East of England and will move around the region.”

Peterborough MP Paul Bristow said: “Peterborough is the best-connected city in the East of England, and could benefit hugely from a new Eastern Powerhouse, with business, local Government, and politicians all working together to realise the potential of our region.”

Vic Annells, chief executive of Cambridgeshire Chamber of Commerce, said: “We’ll support the Powerhouse if it gives more power the region’s elbow. Good luck to them.

“The Cambridgeshire Chamber talks regularly with its counterparts in Norfolk and Suffolk about how we can do more for the East of England.”

Mr Annells said as well as Levelling Up for more deprived areas, the Government should make sure it invested in the better performing areas that make a considerable contribution to the nation’s coffers.

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