§ Mr. RichardsTo ask the Secretary of State for Wales if he has reached a decision on the level of resources to be devoted to regional selective assistance, the Welsh Development Agency and the Development Board for Rural Wales in 1994–95.
§ Mr. RedwoodA demand for regional aid, from both Welsh companies and inward investors is still high and I am increasing the money available for regional selective assistance to £67 million to meet that demand.
Grant in aid for the Welsh Development Agency will be increased by almost £10 million, a rise of nearly 16 per cent. The board believes overall expenditure of £167 million can be achieved for 1994–95, given its ability to sell assets. This will enable the agency to build on its success in attracting inward investment to Wales and to continue its support for our indigenous businesses.
The budget of the Development Board for Rural Wales will also increase, to almost £17 million, bringing its expected overall expenditure in 1994–95 to over £27 million. This increase will enable the board to continue its business park developments at Penrhyndeudraeth and Cardigan, to develop its programmes for the western areas which suffer most from rural decline, and to continue to support the Wales tourist board's Tourism 2000 strategy.