THE North West Regional Development Association has been given a massive cash increase for the coming financial year taking its budget to more than £250million.
The 75 per cent rise was announced by Deputy Prime Minister John Prescott and Chancellor Gordon Brown today.
It will have complete flexibility over its budget priorities to boost economic development in the area. For the coming year the North West RDA will have a budget of £256,717,000 up from the current year's £146,053,000.
This is the biggest allocation outside London from the £1.35billion total for the development agencies.
The 75 per cent increase includes a consolidation of other government monies to the North West but is an overall real terms cash increase of 15 per cent.
Mr Brown said: "The government's aim is to deliver balanced economic development across all regions to ensure that all parts of the country share in rising prosperity. The RDAs are the key advisers of economic growth in the regions, and today's announcement gives them the tools to do the job -- to encourage innovation, raise skills and promote enterprise."
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