Manchester City Region: LEP not a ‘cure all’ says economist

THE Greater Manchester Local Enterprise Partnership (LEP) should not be seen as a cure-all for the issues the City Region is facing but as “one cog in a much bigger wheel”.

That’s according to Baron Frankal, one of Manchester’s leading economists, who was speaking at a roundtable discussion held by TheBusinessDesk.com in association with Santander Corporate Banking and the law firm Pannone.

Mr Frankal conceded that the LEPs, introduced by the coalition Government to replace regional development agencies, will have no money but stressed its relationship with other bodies will yield results.

“In isolation it’s worth nothing,” said Mr Frankal, director of economic strategy at the Greater Manchester Commission for the New Economy.

“But here in Greater Manchester, a city of three million people, we have the combined authority, the chamber of commerce, and there’s great leadership. The LEP has something to add to that.”

Mr Frankal was addressing scepticism about the body, which will seek to lever-in investment from a variety of sources, from several panelists who run their own businesses.

To read the rest of the round-table report,  click here to download Dawn of a New Era, our Manchester City Region economic review.