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Strategic Investment Fund

Volume 506: debated on Tuesday 23 February 2010

To ask the Minister of State, Department for Business, Innovation and Skills how much funding from the £200 million allocated to the Strategic Investment Fund in the 2009 Pre-Budget Report has been (a) allocated and (b) disbursed to each project in each (i) constituency, (ii) local authority area and (iii) Government Office region. (315806)

[holding answer 9 February 2010]: In allocating the additional £200 million in the 2009 Pre-Budget Report, the Chancellor specified that £50 million would be spent on offshore wind investment, £30 million on low carbon vehicles, £30 million on decarbonisation of the chemicals industry on Teesside, £40 million on other low carbon projects, £5 million for new TSB prize funds in innovative technology and £5 million on enterprise support for service personnel. The money is available to spend only in the financial year 2010-11. This money has not yet been legally committed or disbursed.

In most cases, the location will be the subject of further competitions, for example through the TSB or the Office of Low Emission Vehicles, where funding is allocated on the basis of open and competitive bids throughout the UK which will be assessed strictly and solely on the basis of merit.