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Regional Development Agencies

Volume 493: debated on Wednesday 3 June 2009

To ask the Minister of State, Department for Business, Enterprise and Regulatory Reform what funding streams are provided by each regional development agency. (277362)

[holding answer 1 June 2009]: Since April 2002, the RDAs have been financed through a Single Programme budget (the “Single Pot”). Money from the seven contributing Departments (BERR, CLG, DIUS, DECC, DEFRA, DCMS and UKTI) is pooled into one single budget.

The funding, once allocated, is available to the RDAs in order to achieve the regional priorities identified in their regional economic strategies (RES) and the challenging targets set by them in their corporate plans. The corporate plans are approved by Ministers. Each region’s plan will differ according to the needs, opportunities, and priorities for economic growth in each region.