LEP euro aid allocation revealed

Simon Donohue

Business Secretary Vince Cable has revealed how the €6.2bn England allocation of the European Regional Development Fund and the European Social Fund will be allocated over the next seven years.

The information provided includes details of the distribution of money to the North West's Local Enterprise Partnerships.

They will receive:

  • Cheshire & Warrington: €142.2m
  • Cumbria: €91.4m
  • Greater Manchester: €415.6m
  • Lancashire: €266.3m
  • Liverpool City Region: €221.9m

Cable said: "The government has given a commitment that the Growth Programme Funds will be allocated to Local Enterprise Partnership areas as an important new source of finance to stimulate local growth and jobs.

"This marks a significant shift from previous European programmes which were substantially centralised with limited local involvement in many key areas.

"Under this new model, decision-making powers will be transferred from Whitehall to local areas.

"LEPs and local partners will be in charge of European Funds that will provide significant investment in innovation, business, skills and employment in a common agenda for growth and jobs that will integrate effectively with wider LEP Strategic Plans."

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and of course line the pockets of those members of the LEP’s with a vested interest…lets hope there is proper process in place and a way to control and punish those who abuse the system

By Skep Tix

I say short cut the system and just send the money directly to the developers (and their chums) Isle of Mann bank accounts. As this is where most of the money ends up.

By Mr John