GREATER MANCHESTER ALLOCATED LION’S SHARE OF €1.1bn ERDF

The North West is to receive over €1.1bn of the €6.2bn allocated to England from the ERDF.

The Government’s Business Secretary Vince Cable has revealed how the €6.2bn European Regional Development Fund and the European Social Fund will be allocated over the next seven years with Greater Manchester being awared the lion’s share of monies available to Local Enterprise Partnerships in the North West.

Each LEP in the North West has been allocated the following –

• Cheshire & Warrington: €142.2m
• Cumbria: €91.4m
• Greater Manchester: €415.6m
• Lancashire: €266.3m
• Liverpool City Region: €221.9m

Cable said: “The government has given a commitment that the Growth Programme Funds will be allocated to Local Enterprise Partnership areas as an important new source of finance to stimulate local growth and jobs.

“This marks a significant shift from previous European programmes which were substantially centralised with limited local involvement in many key areas.

“Under this new model, decision-making powers will be transferred from Whitehall to local areas.

“LEPs and local partners will be in charge of European Funds that will provide significant investment in innovation, business, skills and employment in a common agenda for growth and jobs that will integrate effectively with wider LEP Strategic Plans.”

– See more at: Place Norh West