“The last round of the Regional Growth Fund showed that the Government prioritised publicity over delivery." - Wright

Iain Wright MPResponding the to government’s announcement of awards in Round 2 of the Regional Growth Fund, Iain Wright, Labour’s Shadow Business Minister and MP for Hartlepool said:

“I welcome all investment in the North East's economy which will allow businesses with great potential to expand and grow. However, the Regional Growth Fund is only a third of the value of investment provided by the Regional Development Agencies, such as One NorthEast, which have been scrapped by this government.

“The last round of the Regional Growth Fund showed that the Government prioritised publicity over delivery.  Nine months after the announcement of the first round, only two companies in the entire country had received any funding.  I hope for the good of the regional economy that successful businesses receive the money more quickly than the previous round.

The North East urgently needs a plan for growth and jobs. Labour would increase the funding available for regional development and create up to 5,500 jobs for young people in this region.”

ENDS

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