Single Regeneration Budget

HC Deb 05 December 1994 vol 251 cc9-10W

Mr. Dicks

To ask the Secretary of State for the Environment what progress has been made with the single regeneration budget; when he will be announcing the results of the first bidding round; and if he will make a statement.

Mr. Curry

Resources for the single regeneration budget for 1995–96 and the two subsequent years have been maintained at over £1.3 billion per year. These resources will enable the single regeneration budget to support continuing public investment in initiatives to encourage regeneration including urban development corporations, housing action trusts, English Partnerships, business start-up, estate action and city challenge. These commitments are worth more than £1 billion year.

In addition to meeting these existing commitments, my right hon. Friend the Secretary of State for the Environment has been able to provide for an increase in resources for the first single regeneration budget bidding round of £75 million over the next three years. This will boost the funds available for the first round to £125 million in year one, 1995–96, and £225 million in each of the years 1996–97 and 1997–98.

As well as increasing resources for the first round, my right hon. Friend has also been able to find resources for a second bidding round which will be launched next year, working up to a total of £200 million in 1997–98, with £40 million available in 1996–97 for early funding of approved bids.

In all, the provision for the single regeneration budget over the next three years is almost £4 billion, of which over £800 million will be available for new projects.

The overall quality of the bids submitted in the first round was excellent. In line with the bidding guidance for the single regeneration budget, which was issued on 14 April, the bids covered a range of objectives, including employment, training and education, support for enterprise, housing projects, crime prevention schemes and initiatives directed specifically to ethnic minority communities. Most of the bids demonstrated a strong emphasis on sustainable development and lasting regeneration.

The bids have been drawn together with a wide range of partners from all sectors of the community. The bidding process has engendered an unprecedented level of co-operation between local authorities, training and enterprise councils, the private and voluntary sectors, and others.

The first round bids indicate that every £1 of support from the single regeneration budget will, over the lifetime of projects, generate some £4 in other private and public contributions.

The increased resources available for the first bidding round should mean that, of the total of 469 bids submitted for funding to the Government offices for the regions, about 200 are likely to be successful. Details of the successful individual bids will be published tomorrow, and will be placed in the Library of the House and circulated to hon. Members.