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Rt. Hon. Sir Alan Beith MPLiberal Democrat Member of Parliament for Berwick Upon TweedWorking for you and the Berwick upon Tweed Constituency all year roundin Northumberland and in Westminster |
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Liberal Democrats create £1bn fund for communities hit by cuts - Beith
June 30, 2010 12:00 AM
Plans are in place to help businesses in the north east, thanks to Vince Cable, Sir Alan Beith and Nick Clegg.
Liberal Democrat Leader and Deputy Prime Minister Nick Clegg has launched a £1bn Regional Growth Fund to help communities that may be particularly affected by public spending cuts.
Liberal Democrat Sir Alan Beith, MP for Berwick upon Tweed has today described the move as a vital step in protecting jobs and promoting growth in the north east.
Sir Alan said:
"The reckless Labour government left the country nearly bankrupt, with an unprecedented challenge ahead.
"The Coalition Government has had to make incredibly difficult choices, but the Liberal Democrats are helping ensure that no community gets left behind and see that areas like the north east get special help."
The Regional Growth Fund will deliver a more focused approach in the north east and provide more business support, encourage entrepreneurs and protect jobs.
Speaking in Bradford after the first regional Coalition Cabinet meeting, Nick Clegg said:
"The Regional Growth Fund will create the conditions for growth and enterprise by stimulating investment and creating sustainable private sector jobs.
"Alongside our commitment to waive some employment taxes for new businesses starting up in targeted regions of the country, this fund can make a real difference to companies during difficult times."
The fund, which will operate in 2011/2012 and 2012/2013, will help areas most dependent on public sector employment as the country makes the transition to private sector-led growth and prosperity. Both private bodies and public-private partnerships will be able to bid for funding by demonstrating that their proposal will bring in private investment and support sustainable increases in private sector jobs and growth in their area.
Nick Clegg also set out plans for Local Enterprise Partnerships (LEPs) that will bring together councils and business on an equal footing with one voice, replacing the current Regional Development Agencies (RDAs). In a letter sent to councils and business leaders, Business Secretary Vince Cable asked them to consider forming new Local Enterprise Partnerships that can provide strategic leadership in their local areas and create the right environment for business success and economic growth.
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