According to the organisation, the fund would help target twin aims of improving social cohesion while at the same time driving towards the government’s ambition of net zero carbon emissions.
Research from the CLC and spearheaded by the Association for Consultancy and Engineering (ACE) suggests such an initiative could “empower local authorities, and their development partners, to take the lead in the post-Covid revitalisation of towns and cities”.
“With the right support, local authorities and their development partners can deliver targeted investment that will not only create jobs, but will deliver for communities and businesses in all parts of the UK,” said CLC co-chair Andy Mitchell.
“We are calling on the UK government to take steps to empower local authorities to lead the UK’s economic recovery and deliver the sustainable future we will need to succeed in the post-pandemic world.”
ACE chief executive Hannah Vickers added that the fund would “open up projects to interest from private and institutional investors who are also seeking clear social and environmental returns”.