Some 195 businesses qualify as ‘large’, with 250 or more
employees. At the time of the 2011 census, Cambridgeshire
and Peterborough had just over 400,000 employed residents.
Some 70,000 people commute into the area for work, while
nearly 60,000 Cambridgeshire and Peterborough residents
commute outside the area.⁷º”
Nonetheless, there are also a number of contrasts. Cambridge is
the least equal city in the UK based on income and wealth and
Peterborough and Fenland each contain areas that are among the
10 per cent most deprived nationally and both are among the worst
areas nationally for the number of premature deaths.⁷¹
Cambridgeshire and Peterborough Combined Authority has a bold
target, set out in its Devolution Deal, of doubling GVA over 25 years.
For an area of such importance to our future economy, it is essential
that we get devolution in this area right.
Despite this, devolution in East Anglia has had a somewhat difficult
history. In March 2016, plans were made for full East Anglia
Devolution (dubbed the ‘Eastern Powerhouse’) which would form
an East Anglia Combined Authority consisting of Norfolk, Suffolk,
Cambridgeshire and Peterborough.
This concept was sufficiently
advanced for a deal to be offered
by the Secretary of State to the
relevant authorities. However,
a number of councils did not
support the deal as it stood,
and so in June 2016 a second
approach, in which the original
Combined Authority was split in
two, was made.
Outside of Cambridge and
Peterborough, the Fenland
economy consists of:
l 100,200 people, 60 per cent of
l 3405 businesses, GVA of around
£2.2bn a year.
l Productivity level of £69,500
Source: Fenland Council
Norfolk and Suffolk rejected their devolution deal in November 2016,
⁷º C&P Spatial review