Uncertain future for Yorkshire Forward
A BUSINESS body which has poured millions of pounds into the recession-hit local economy could be scrapped after the next election.
But bosses at Yorkshire Forward say plans by the Conservatives to dump regional development agencies (RDAs) would hamper the UK's fragile economic recovery.
Tory leader David Cameron has singled out Britain's nine RDAs as a major target for funding cuts should he win the general election, expected in May.
The party has proposed to hand Yorkshire Forward's powers and government funding to enterprise partnerships established between local authorities and business leaders.
Councils would then have the choice of whether to scrap the much-weakened RDAs altogether.
Speaking in Westminster last month, business secretary Lord Mandelson said the move would be a 'kick in the teeth' for the region's economic fortunes.
He told the Express: "The RDAs are absolutely crucial to delivering the government's strategy for economic recovery and jobs in the regions.
"They are providing essential support for businesses during the recession and generating economic benefits that far outweigh their costs.
"In fact, a recent report shows that for every 1 spent by the RDAs, an average of 4.50 is put back into the regional economies."
The report, by auditor's firm PriceWaterhouseCoopers, also credited Yorkshire Forward with channelling millions of pounds in grants to firms during the recession and championing the region's emerging carbon capture and storage industry.
Yorkshire Forward is funded by the UK government and the European Union, via its European Regional Development Fund.
Email to a friend
Print this page
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Wakefield
Wednesday 23 May 2012
Today
Sunny spells
Temperature: 12 C to 23 C
Wind Speed: 10 mph
Wind direction: North east
Tomorrow
Cloudy
Temperature: 10 C to 21 C
Wind Speed: 10 mph
Wind direction: North east
