500,000 jobs from Regional Growth Fund - The Journal

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By The Journal
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500,000 jobs from Regional Growth Fund

6 Dec 2011 08:26

A GOVERNMENT fund aimed at boosting economic growth in the regions will help create around half a million jobs over the next few years, the Government announced today.

Deputy Prime Minister Nick Clegg said the £2.4billion Regional Growth Fund will be open for two further rounds of bidding from next February.

The fund was launched a year ago and has allocated £1.4 billion to 50 projects in the first round of bidding, with more set to be financed through a second round.

Mr Clegg will say later today that the extra funding announced in last week’s Autumn Statement will help the fund create an estimated half a million jobs before the end of the Parliament “with at least £5 put in for every £1 of public money.”

Mr Clegg said the focus will remain on creating jobs, encouraging private investment and supporting areas dependent on the public sector.