Graham Stringer
Main Page: Graham Stringer (Labour - Blackley and Middleton South)Department Debates - View all Graham Stringer's debates with the HM Treasury
(14 years, 4 months ago)
Commons ChamberThe hon. Gentleman makes a very good point, and there is an awful lot of waste in the regional development agency system more generally. Of course, it will be for the local economic partnerships to look at such issues and work out whether they wish to come together to promote their region in a wider way, but his point serves to reinforce the argument for the structural change that we are making.
There is no doubt in my mind that the Northwest Regional Development Agency has been a bureaucratic burden on the economy of the north-west since it was started. It has also followed capricious policies that have not directed investment where it would create most jobs. How will the right hon. Gentleman ensure that money is invested in those places where it will create most jobs?
I am very grateful to the hon. Gentleman for his comments in support, I think, of the policy that we are pursuing. The local enterprise partnerships will be able to choose for themselves and direct where they think investment is needed in their localities. One major tool that they will have at their disposal is the ability, as a public-private partnership, to apply to the regional growth fund for investment in their areas. Obviously, that will be allocated in ways to be announced, but I hope that it will provide a tool for those new bodies to do precisely the sorts of things that the hon. Gentleman set out.