Nothing out of Regional Growth Fund

Today the Government announced the 50 projects that it would be part-funded with £450m from its Regional Growth Fund. There were 464 company bids for the funding representing £2.78Bn.

There were only 6 bids from our LEP region and there is no indication whether these bids received any LEP assistance in preparing their bids or whether any of the bids were supported by the LEP. In any case none of the bids from our LEP region were successful.

This reinforces my view that this Region will be receiving no financial support from Central Government.  This is a totally wrong approach and is completely counter intuitive.  I believe that with proper government investment our LEP – we could achieve 10% growth in “Regional GDP” for our LEP region and become an engine of growth for the more deprived parts of the UK

– or maybe our bids were not very good

I am really concerned about the amount of skill and expertise that has been wasted in preparing the 414 failed bids. What is the cost of all this effort.

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