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Tuesday, 6 December 2011

Regional Growth Fund 'will create half a million jobs'

Some half a million jobs are set to be created by the coalition by the end of the current parliament due to the Regional Growth Fund, according to deputy prime minister Nick Clegg.

He made the comments after the announcement of a £1 billion boost to the Regional Growth Fund in the chancellor's Autumn Statement last week, meaning the total fund now stands at £2.4billion in total.

There are also set to be at least two further rounds of bidding, with the next round opening during February 2012, and Mr Clegg said the focus of the fund will remain on creating jobs, encouraging private investment and supporting areas dependent on the public sector.

He elaborated: "With this targeted support for companies we're unlocking private sector investment, with at least £5 put in for every £1 of public money.

The deputy prime minister noted that the pots of funding are already "jump starting" growth and creating jobs across the country, which is helping to rebalance the economy so that all regions and sectors benefit.

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Posted by Wayne Bly ADNFCR-1617-ID-801231567-ADNFCR

Source: The Sales Director News

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