§ Mr. Tony LloydTo ask the Secretary of State for Trade and Industry what plans he has to review the DTI's provision of Competitiveness Development Fund resources to the North-west. [119026]
§ Mr. Caborn[holding answer 14 April 2000]: For the financial year 2000–01 the DTI is making available £440,000 of funding under the Competitiveness Development Fund (CDF) to the North West Development Agency. This represents an increase in funding of over 75 per cent. compared to the previous financial year.
In addition, my right hon. Friend the Secretary of State for Trade and Industry announced on 27 March 2000 details of further measures to encourage innovation and enterprise by businesses, including a new £50 million fund for promoting the development of clusters and business incubation in the English regions. The £50 million will go to the Regional Development Agencies (RDAs) in England over this and next financial year (2000–01 and 2001–02). £15 million is to be made available in this financial year split equally between the eight current RDAs and the London Development Agency when it is established. This, together with CDF funds, will provide a combined allocation of over £2 million of funding for each RDA in 2000–01 for work on competitiveness and enterprise.