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Regional Development Agencies: Finance

Volume 495: debated on Friday 3 July 2009

To ask the Minister of State, Department for Business, Innovation and Skills what recent changes there have been to the investment budgets of each regional development agency. (279897)

The RDAs' investment budgets are their Capital budgets. Changes were made to the RDAs' Capital budgets to take account of the following Government initiatives:

HomeBuy Direct: RDAs' contribution was £25 million (2009-10);

Fiscal Stimulus: RDAs bringing forward £100 million of their regeneration projects from 2010-11 to 2009-10; and

Capital for Enterprise Fund: RDAs' contribution of £10 million in 2009-10.

The following table shows how individual RDA Capital budgets, given to them as indicative allocation following the Comprehensive Spending Review 2007 Settlement, were affected in 2009-10 by the above initiatives. All figures are in £ million.

2009-10

Indicative Allocation

RDA

Capital Budgets (£ million)

Change (£ million)

Advantage West Midlands

136

16

East of England Development Agency

57

4

East Midlands Development Agency

75

1

London Development Agency

186

-6

North West Development Agency

191

14

One North East

124

6

South East England Development Agency

68

4

South West Regional Development Agency

70

7

Yorkshire Forward

148

18