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£105 Million To Boost UK Business Growth

Over 250 local authorities in England will be awarded in excess of £105 million for 2005/06 under an incentive scheme aimed at encouraging business growth. Local Government Minister Phil Woolas announced the award under the Local Authority Business Growth Incentives (LABGI) scheme, which will see funding to local authorities increase to almost £1 billion over the next three years.

It is for local authorities to decide how their reward is spent - whether to provide even better public services for their communities, invest in further business growth or to reduce council tax increases. Minister for Local Government, Phil Woolas, said: “I am delighted to announce the grant payments for the first year of this scheme, which provides substantial rewards for local authorities. Government is committed to devolving powers and to encouraging new business.

This grant is a huge boost to both goals.“ Details of the grant payments to individual authorities, and of the LABGI scheme, can be found on the ODPM website at www.local.odpm.gov.uk/finance/labgi.htm

This was posted in Bdaily's Members' News section by Ruth Mitchell .