Call for investment fund to help city’s economy

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A SHEFFIELD Investment Fund is proposed by opposition Lib Dems as a way of bringing extra cash into the city’s economy to fund further regeneration.

The fund could be available for financial institutions and pension companies to invest in, the party is proposing.

Its plans are revealed in a motion proposed for the full meeting of Sheffield Council on Wednesday.

Coun Roger Davison, a former member of the ruling cabinet before the Lib Dems lost power in May, is behind the plans. He said: “The fund would be available for the private and public sector to invest in and for local investors to access.”

Coun Davison is proposing money from the fund could be used to pay for local investment projects, which would pay for themselves and profit made could also be paid back into the fund.

Coun Davison is also calling for a report by officers on how to ensure Sheffield benefits from having a Local Enterprise Partnership, which can bid for Government cash, and giving a long-term view of how the city economy could grow in future years.

He added: “In addition to national policies such as creating Enterprise Zones with lower taxes, local pro-business policies are required by the council.”