Regional Development Agency - Funding

Funding

The RDAs were funded by six different central government departments, those being:

  • Department for Business, Innovation and Skills
  • Department for Communities and Local Government
  • Department for Energy and Climate Change
  • Department for Environment, Food and Rural Affairs
  • Department for Culture, Media and Sport
  • UK Trade and Investment

The funding from these departments was pooled, and then allocated to the different RDAs. The total funding known as the 'Single Pot' was as below.

  • 2006/2007 — £2.244 billion
  • 2007/2008 — £2.297 billion
  • 2008/2009 — £2.193 billion
  • 2009/2010 — £2.260 billion
  • 2010/2011 — £1.760 billion

In 2009 a study by accountants PriceWaterhouseCoopers showed that RDAs were generating £1 for the local economy for every £1 of public spending, though this figure was estimated to rise to £4.50 when long-term investments in infrastructure matured.

Read more about this topic:  Regional Development Agency

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