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Dept of Trade and Industry

Answer

Mr. Stephen O'Brien: To ask the Secretary of State for Trade and Industry what has been the average length of time taken for the Government to approve projects (a) projected to cost more than £1 million and (b) projected to cost less than £1 million, that are proposed by each of the regional development agencies, following the issuing of a corporate plan, in the last year for which figures are available. [146081] Jacqui Smith: Under Section 5(2)(a) of the Regional Development Agencies Act 1998 the Agencies may not give financial assistance without the consent of the Secretary of State. However, the consent of the Secretary of State has been given to each Agency to give such assistance subject to a specific financial limit and other conditions set out in its Financial Memorandum. Any proposed expenditure or guarantee that is in any way novel or contentious, regardless of its cost, also requires the specific approval of the Treasury. During 2002-03, the average time taken for DTI to approve RDA proposals for expenditure exceeding the financial limit (£5 million during 2002-03) was 3-4 weeks. The average time taken to approve projects that required additional approval from the Treasury was nine weeks.

Secondary information

Type

Written question

Reference

146081; 416 c373-4W

Session

2003-04

Subjects

Government assistance Treasury Regional development agencies Business plans

Link

View this Written question on www.publications.parliament.uk