East gets less regeneration funding

THE East of England is close to the bottom of the pile when it comes to funding for its regeneration projects, figures reveal.Since 1999, the Government has given regional development agencies �3.

THE East of England is close to the bottom of the pile when it comes to funding for its regeneration projects, figures reveal.

Since 1999, the Government has given regional development agencies �3.267billion to spend on community-led physical regeneration projects.

Over that period, the East of England has received �125.5million, putting it second from bottom, and �237m less than the national average and �769m less than the highest funded region, the North West. Only the South West fared worse with �101.7m.

The East of England Development Agency estimates the programmes here bring in a return of �6.60 for every �1 spent, compared to a national average of �2.50 for every �1.

“How much longer can the Government ignore the fact that, despite the millions it has poured into the Midlands and North, the East is one of the few areas which makes a contribution back to UK plc?” said Cambridgeshire County Council leader Jill Tuck, a member of the East of England Strategic Authority Leaders group.

“If we were offered a fair share of funding, the return on investment for Government would be far greater, with the added benefit to the national economy.”

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