Chuka Umunna – 2014 Parliamentary Question to the Department for Business, Innovation and Skills

November 2, 2022 admin 2014, Chuka Umunna, Parliamentary Question

The below Parliamentary question was asked by Chuka Umunna on 2014-07-15.

To ask the Secretary of State for Business, Innovation and Skills, what the total value is of all bids made in each region to each round of the Regional Growth Fund including the Exceptional Regional Growth Fund; how much has been committed to winning bidders in each such region in each such round; and how much such funding has been drawn down.

Greg Clark

The tables below provide a breakdown of the value of Regional Growth Fund (RGF) by region and round for RGF applications; the committed allocation of RGF to projects and programmes following due diligence. This data excludes those projects and programmes that have withdrawn. The third table sets out the amount drawn down by operational RGF awards to date and the financial years in which the remaining RGF and eRGF is committed through to 31^st March 2017. The data is correct as at 2^nd October 2014.

Projects and programmes in Rounds 1 to 4 have until 31 March 2015 to draw down their funding and projects and programmes in Round 5 will be able to draw down funding until 31 March 2017. The Department agrees a draw down profile with each organisation when they sign their grant offer letter that matches the beneficiary’s own investment schedules and job commitments. The subsequent rate of draw down is then subject to the beneficiaries meeting the conditions.

RGF Applications (£ million)

	Round 1	Round 2	Round 3	Round 4	Round 5	Exceptional	Total
East Midlands	231	529	124	163	56		1,103
East of England	115	131	61	50	43		400
London	74	117	26	32	4		253
North East	343	335	353	215	98	34	1,378
North West	519	535	414	322	81	9	1,880
South East	185	154	145	191	24	22	721
South West	144	232	322	219	57	15	989
West Midlands	569	282	419	176	70	16	1,532
Yorkshire and The Humber	327	434	345	240	26		1,372
Nationwide	215	315	565	282	241		1,618
TOTAL	2,722	3,064	2,774	1,890	700	96	11,246

RGF Committed

	Round 1	Round 2	Round 3	Round 4	Round 5	Exceptional	Grand Total
East Midlands	2	64	27	35	20	0	148
East of England	14	35	25	15	5	0	95
Nationwide	175	95	176	50	107	0	602
North East	34	61	111	30	55	21	313
North West	20	182	105	86	20	5	418
South East	0	60	54	25	6	11	155
South West	4	71	82	13	22	5	197
West Midlands	89	95	151	55	30	17	437
Yorkshire and The Humber	47	78	93	40	27	0	285
Grand Total	385	742	834	349	291	58	2651

RGF Drawn Down by year (£ million)

Financial Year	2011/12	2012/13	2013/14	2014/15	2015/16	2016/17	Total
Actual paid – year to date	465	161	551	252*			1,428
Planned for whole financial year				1165	167	133	2,642

The difference between the totals in tables 2 and 3 arises because RGF applicants have not always claimed the full grant available to them.

*This is the actual amount paid to beneficiaries as of 2^nd October 2014.

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