Regional Development Agencies
Debate between Baroness Wilcox and Lord Beecham
Baroness Wilcox
The noble Lord, Lord Greaves, is very engaged with this subject. We exchange letters almost weekly and I am very happy to answer him again now. BIS and the Department for Communities and Local Government are considering how to manage the remaining land and property assets. An announcement will be made on that soon. One option is to transfer them to the Homes and Communities Agency, which would allow local areas to benefit from regeneration of the RDA assets. I hope that the noble Lord finds that helpful.
Lord Beecham
My Lords, would the Minister indicate what proportion of the proceeds of sale will be devoted to economic development in the regions and, specifically, what proportion will be allocated to economic regeneration in the north-east, whose RDA, One North East, was one of the most successful in the country?
Baroness Wilcox
The north-east and north-west RDAs were successful and popular. Businesses and civic leaders had the opportunity to form local enterprise partnerships that covered the existing RDA boundaries but they chose not to do so. Economic ties do not necessarily match local or regional boundaries, so the answers will be different from the RDAs.