Vince Cable, UK. Business Secretary recently hinted in a speech that the UK government is not totally sure about the benefits brought in by regional development agencies (RDA) across the country. As a follow-up to this declaration, the government is expected to announce sweeping budget slashes for RDA’s across the UK.
The UK government is apparently considering substituting regional government agencies with a group of local enterprise affiliations. This move is expected to ring in better value for money in the future. Last year, the government had invested £2.3 billion in nine regional development agencies in the UK. If these investments are withdrawn, the government stands to make hefty savings.
This reevaluation of the role of regional development agencies follows the allegations imposed on the last government that these agencies were mere political pawns. Experts believe that whether RDA’s are subject to budget cuts or are substituted by enterprise partnerships, there is a need for greater investments in local economies in many areas of the UK, particularly the north.
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