On Tuesday, Nick Clegg announced that at least £0.5bn was to be cut from the budget for regional economic development and at the same time abolished the regional development agencies (RDAs).  In their place will be a ‘regional development fund’.  In creating this new body, the government broke its promise – with no consultation or debate – that regional development agencies would remain in areas where they were popular.

This is devastating news for businesses across the country, with the coalition government seemingly evermore determined to risk plunging the UK back into recession. (more…)