I pay tribute to the work that my right hon. Friend did on behalf of the region as Minister for the North East, and in particular to the support that he gave us in Easington. What is his view of the cost of redundancy following the winding up of the regional development agencies, which the Minister has indicated will be £464 million over the four years, including salaries, redundancies and transition costs? The alternative, the local economic partnerships, have no budgets. Does my right hon. Friend think they are an effective vehicle to drive economic growth in the region?