London Development Agency (Savings 2010-11)

Vince Cable Excerpts

Thursday 15th July 2010 Written Statements

[The Secretary of State for Business, Innovation and Skills (Vince Cable)]

I have written to the Mayor of London to confirm that the London Development Agency will provide £40 million in savings from their budget for 2010-11.

This follows the announcement by the Chief Secretary to the Treasury on 24 May 2010 that the other eight regional development agencies would contribute savings of £270 million in 2010-11.

A copy of my letter addressed to the Mayor of London dated 6 July 2010 has been placed in the Libraries of both Houses.