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Regional Development Agencies: Finance

Volume 475: debated on Monday 12 May 2008

To ask the Secretary of State for Environment, Food and Rural Affairs what arrangements he has agreed with regional development agencies and Natural England to account for exchange rate variations. (203931)

Budgets for Regional Development Agencies and Natural England are set in sterling. Exchange rate variations have no immediate impact on these bodies. However, DEFRA is working closely with the delivery bodies and the paying agency, the Rural Payments Agency, to manage and account for the total resources for the Rural Development for England Programme over the seven-year programming period.