§ Mr. Goldingasked the Secretary of State for the Environment how much has been spent on urban development grants in each year since 1982; how much it is proposed to spend in each of the next five years; and if he will make a statement.
§ Sir George YoungUp to the end of 1983–84, 44 projects assisted with urban development grant (UDG) had started on site. These projects involved public expenditure estimated at £16 million and private sector investment of £73 million. In 1984–85 a further 56 projects, involving public expenditure of £28 million and private investment of £100 million, started. In 1985–86 so far, 33 projects have started involving public expenditure of £17 million and private investment of £109 million. Thirtysix other projects have been approved for grant but have not yet started; these would involve public expenditure of £16 million and private investment of £57 million. Spend in future years will depend on the quality and number of projects submitted and the extent to which they address the objectives of UDG.
These figures demonstrate that UDG is levering into inner urban areas significant private investment which would not otherwise have taken place there.