Downing Street Says » Regional Growth Fund

» Monday, October 31, 2011

Regional Growth Fund

Asked why large companies like JCB and Siemens were getting money from the Regional Growth Fund, the PMS responded that they were providing jobs in areas that needed them. The PMS added that the Government had looked very carefully at the companies that had bid for investment and said that Government investment would provide leverage for much greater investment from the private sector. The PMS said that 201,000 jobs would be created or protected out of the money that had been allocated.

Put that JCB had make record profits and asked why it needed Government subsidies, the PMS reiterated that one of the key criteria of the Regional Growth Fund was to support areas that had been reliant on the public sector and this was where the Government was looking to help companies invest.

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