Town's growth stunted – claim

THE Government has been accused of “stunting” the growth of Warrington and the North West by a local MP.
Warrington North MP Helen Jones called for a rethink on the support to the region, after 80 of its projects were rejected from the first round of the Regional Growth Fund.
She said the £1.4 billion fund over three years represented a two thirds cut in the regional investment delivered by the Regional Development Agencies, which are being scrapped.
She added that that nationally only 50 projects were given financial support from the £450 million first round – despite the fact that 464 bids totalling £2.78 billion were received.
The MP said: “The Tory-led Government has proven yet again that it totally underestimates the scale of the challenge facing Warrington and the North West in the current economic climate.
“By rejecting 80 bids to the Regional Growth Fund it is clear that they do not have a clear plan to create growth and jobs so that our economy can recover. By stunting growth the Tories risk actually making the deficit larger.”
She said the Government has cut regional growth funding by two thirds, at a time when investment is needed to create new jobs.
She said: “Labour argued for an extra £200 million to be put into the first round of the Regional Growth Fund, on top of the £450 million given by the government. This would be funded from repeating the bank bonus tax – a fair, quick and efficient way to stimulate growth.”